Paycom No. 6 on Fortune’s list of fastest-growing companiesPublished: Monday, August 19, 2019 By: Journal Record Staff Source: The Journal Record
Paycom Software Inc., a provider of comprehensive, cloud-based human capital management software, is No. 6 on Fortune magazine’s 2019 100 Fastest-growing Companies list of domestic and foreign publicly traded companies.
It is the only human capital management provider in this year’s rankings, the company said.
A three-year honoree on Fortune’s annual list, Paycom landed above other technology companies such as Adobe, Amazon, Facebook and Salesforce. The Oklahoma City-based payroll and human resources software provider is one of only two Oklahoma companies awarded a spot among this year’s group. Tulsa-based Oneok, which gathers, processes, stores and transports natural gas, was No. 100 on Fortune‘s list of fastest-growing companies.
“We are focused on expanding the value we deliver to our clients,” said Chad Richison, Paycom’s founder and chief executive officer. “As our clients realize a greater return on their investments, they are telling their friends and driving more businesses to the Paycom solution. We believe we are in the early stages of a new era of innovation for our industry and are excited to be leading the way.”
Each organization’s overall rank on Fortune’s 100 Fastest-Growing Companies list was based on three areas of performance over a three-year period ending June 28: Average annual revenue growth, average increase in earnings per share and total stock return.
According to Fortune, the list provides a snapshot of trends driving the global economy, such as the continued ascendance of the technology sector, which makes up nearly one-third of this year’s honorees.
Some of Paycom’s 2019 highlights include second-quarter revenue of $169.3 million, up 31% from the prior-year period.
In June, Richison was named among the Top 100 CEOs in a U.S. survey published by Glassdoor, an employment website where employees anonymously review companies and their management.
Receiving a 93% approval rating based on anonymous voluntary reviews from Paycom employees, Richison was No. 66 on the list, which includes CEO giants such as Facebook’s Mark Zuckerberg and Apple’s Tim Cook. Richison’s No. 66 ranking is 11 places behind Zuckerberg and ahead of CEOs such as Cook at No. 69 and Bloomberg’s Michael Bloomberg at No. 71.
More than 1,100 employees participated in Glassdoor’s survey, not only rating Richison highly but also Paycom as a whole based on surveys collected between May 2, 2018, and May 1, 2019. Other areas in which the company rated highly included whether employees would recommend employment at Paycom to a friend. Eighty-three percent said they would. Eighty-four percent said the company featured a positive business outlook.
Benefits cited by employees included the company’s $1 health insurance, extensive paid vacation, holiday and sick leave, $4 lunches catered at the company’s headquarters, a free on-site gym, and a flexible spending account.
Earlier this year, Paycom also distinguished itself by being the only Oklahoma-based company to have made the list of large companies on Glassdoor’s 2019 Best Places to Work survey. Founded in Oklahoma City in 1998, Paycom received a 4.4 out of 5 stars rating and ranked 62 out of 100. The company beat out tech giant Apple at 71 and Goldman Sachs at 75.
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