Pros
Job security. As long as your job performance is at least satisfactory, you will be a Paychex employee for a long time. Medical Benefits Good, Vision and Dental are average. 401(K) Match (if you contribute 8% they will match you 4%). You are the driver of your own growth, your supervisor will provide you with the tools and help guide you in the right direction. From a shareholder perspective, PAYX currently holds zero debt. (See job security above).
Cons
Lower than Market Value pay- Expect to get 15-25% less than your glass door “market worth.” This is why they have no debt as a company. TIP- Don’t be afraid to negotiate your pay; especially if you have experience in the area you are applying for. If they offer you blank, say thank you and dive right back into your achievements and prior experience. Sell yourself. Paychex just moved from an Annual Review process to a quarterly review process or a “4x4” for its employees. Having experienced this new review process it seems excessive and puts unnecessary stress on employees, supervisors, and management when the time could best be utilized on job tasks. Instead of once a year in early August, you have to write about why you’re a good employee 3 more times a year and then your supervisor has to review it and meet with you. Oh and the managers have to review your supervisor three more times a year too and so on and so forth. Groupthink- More so in recent years, friends that get promoted then promote their friends regardless if you are more qualified. This applies for males and females. In the end, you have a team where the supervisors and management are close outside of work and the actual team can feel isolated or become paranoid that if one person in the management clique of 5 doesn’t think you’re worth your pay then it’s all over. With this company, just like many others, perception is everything. Your internal perception is the unsaid 7th value of Paychex. If your good at Survivor (yes the TV show) you will be just fine.