Company Overview - Paychex, Inc. (PAYX) has a market capitalization of $33.9 billion and is a leading provider of human capital management (HCM) solutions, offering services such as payroll, HR, employee benefits, and insurance to small and medium-sized businesses in the U.S., Europe, and India [1] Stock Performance - Over the past 52 weeks, PAYX shares have decreased by 36.5%, while the S&P 500 Index has increased by 11.8% [2] - Year-to-date, PAYX shares are down 15.9%, contrasting with a slight decline in the S&P 500 [2] - PAYX has underperformed the State Street Industrial Select Sector SPDR ETF, which has returned 26.3% over the same period [3] Financial Results - For Q2 2026, Paychex reported adjusted EPS of $1.26 and revenue of $1.56 billion, reflecting an 18% year-over-year increase, both exceeding forecasts [5] - Adjusted operating income grew by 21% to $649 million, supported by a 17% contribution from the Paycor acquisition to Management Solutions revenue growth [5] - The company raised its full-year fiscal 2026 outlook, projecting a 10% - 11% growth in adjusted EPS [5] Analyst Expectations - Analysts forecast a 9.2% year-over-year growth in PAYX's adjusted EPS for the fiscal year ending in May 2026, reaching $5.44 [6] - PAYX has a positive earnings surprise history, having exceeded consensus estimates in the last four quarters [6] - The consensus rating among 18 analysts is a "Hold," with 14 "Hold" ratings and four "Strong Sells" [6] Price Targets - Kevin McVeigh of UBS maintains a "Hold" rating on Paychex with a price target of $110 [8] - The mean price target of $122.07 indicates a 29.3% premium to current price levels, while the highest price target of $150 suggests a potential upside of 58.9% [8]

Safe Harbor Statement The statements contained herein that are not historical facts are forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. You can identify such forward-looking statements by the words "anticipates," "expects," "intends," "plans," "projects," "believes," "estimates," "forecasts," "likely," "possibly," "probably," "could," "goal," "opportunity," "objective," "target," "assume," "outlook," "guidance ...

大连职场人对待跳槽更加理性，对待选择更加审慎。对于大连职场人而言，在目前企业任职在3年以上 的员工占比超过半数，3-4年11.54%、4-5年11.54%、5-10年15.38%、10年以上3.85%，合计42.31%，工 作任期呈长期化发展态势。就继续留任意愿而言，61.54%的员工表现出更高的忠诚度和稳定性，愿意 继续服务5年及以上。面对外部涨薪的诱惑时，调研发现50%的员工表示涨薪多少都不会跳槽。 智联招聘辽宁区域总经理关雪利表示，2025年全球经历深刻变化，人工智能已全面渗透并重构职场、岗 位与人才评价标准，在人工智能时代，优秀企业应是职业价值与人生意义的共建者，推动人机协同、价 值共生，实现雇主与员工的"双向奔赴"。 本报讯 记者王月宏报道 近期，智联招聘发布《2025雇佣关系趋势报告》，揭示职场新趋势，采用人工 智能与大数据已跃升为企业推动新质生产力发展的首要方式。目前18%的企业已大规模使用AI，37%的 企业在部分产品或服务中应用，26%的企业处于研究探索阶段。越来越多的企业认识到，AI不仅仅是提 高效率的工具，更是企业的战略核心。在人机共创模式下，职场人的主体性、独立性并没有被削弱，反 而得 ...

Core Insights - The consensus from the event is that AI will not replace HR professionals, but those who do not adopt AI may be at risk of being replaced [3] - The South District is actively promoting high-quality development in the human resources service industry, with a focus on integrating AI and digital technologies [12] Group 1: AI and HR Transformation - AI can screen resumes and perform tasks at a cost less than 1/10 of traditional human resources, operating 24/7 [9] - The collaboration between HR and AI is shifting towards a model where AI handles repetitive tasks, allowing HR to focus on strategy and candidate experience [9][11] - The demand for AI-related positions is surging, with a 39% year-on-year increase in job seekers in the AI industry and a 178% rise in demand for AI product managers [9] Group 2: Policy and Support for Enterprises - The "Six Ones" 2.0 and "Six Coupons" policies are designed to support enterprises throughout their operational lifecycle, from R&D to market expansion [4] - The South District is leveraging the upcoming APEC event to enhance its "Three Souths" initiative, aiming to strengthen local enterprises and connect them globally [4] - The local government is committed to creating a favorable business environment by optimizing policies and encouraging the integration of AI and big data into human resources services [12] Group 3: Collaboration and Efficiency - A new agreement was signed to establish a human resources service liaison station, improving the matching process for companies and eliminating inefficient recruitment methods [6] - Companies like TCL and Shenzhen Deep Love Semiconductor are experiencing increased recruitment efficiency through specialized human resource partnerships [8] - The presence of major human resources consulting firms in the region indicates a robust market with strong innovation potential [8]

Core Viewpoint - Insperity, Inc. has declared a quarterly cash dividend of $0.60 per share, reflecting its commitment to returning value to shareholders [1] Company Summary - Insperity, Inc. is a leading provider of human resources and business performance solutions, serving America's best businesses [1] - The cash dividend will be paid on December 23, 2025, to stockholders of record as of December 9, 2025 [1] - Insperity has been operating since 1986, with a mission to help businesses succeed for community prosperity [1]

Core Insights - The 8th China International Import Expo (CIIE) showcased pio's innovations in AI-powered recruiting, payroll, and cross-border employment compliance, highlighting its leadership in global HR services [1][12] - pio launched Foundire, a next-generation AI recruiting platform that streamlines the recruitment process, enhancing efficiency and accuracy in cross-border hiring [2][6] - pio's CEO Tan Lin emphasized the importance of combining technology with localized services to ensure compliant and efficient global employment for enterprises [9][12] Company Developments - Foundire integrates various recruitment stages into a unified workflow, significantly reducing waiting times and communication costs, thus empowering enterprises to make data-driven hiring decisions [2][5] - pio's collaboration with ecosystem partners during CIIE attracted significant attention, focusing on technological innovation and opportunities for Chinese enterprises [7][12] - pio aims to expand its global presence with entities in over 20 countries and a service network across more than 150 regions, reinforcing its commitment to technological innovation in HR services [12][13] Industry Trends - The keynote speech by pio's CEO at the CIIE addressed how AI is transforming cross-border recruitment and global employment models, shifting HR competitiveness towards data-driven insights [9][11] - The discussions at the Shanghai Hongqiao Human Resources Service Development Conference highlighted the challenges and opportunities for Chinese enterprises in their global expansion [11]

Financial Performance - Q3 2025 - Q3 average paid worksite employees increased by 1%[8] - Adjusted EBITDA decreased by 74%[11] - Adjusted EPS decreased by 151%[11] - Operating expenses decreased by 4% compared to Q3 2024[13] Financial Performance - YTD September 2025 - Average paid worksite employees increased by 1%[15] - Adjusted EBITDA decreased by 42%[18] - Adjusted EPS decreased by 54%[18] Balance Sheet and Cash Flow - Adjusted Cash was $120 million as of September 30, 2025[20] - Total Debt was $369 million as of September 30, 2025[20] - Adjusted EBITDA was $144 million YTD September 30, 2025[20] Q4 and FY 2025 Outlook - Q4 2025 Adjusted EBITDA is projected at $(25) million, a decrease of 209% year-over-year[22] - FY 2025 Adjusted EBITDA is projected between $119 million and $153 million, a decrease of 56% to 43% year-over-year[22] - FY 2025 Adjusted EPS is projected between $0.84 and $1.47, a decrease of 77% to 59% year-over-year[22]

Core Insights - The article discusses the complexities and challenges employers face regarding the Family and Medical Leave Act (FMLA), particularly concerning intermittent leave and mental health issues [5][4]. Group 1: Mental Health and FMLA - There is a growing concern among employers about the appropriate use of FMLA leave for mental health issues, which are often not visibly apparent [2][3]. - Data from ComPsych indicates that 11% of all leaves taken in the first quarter of 2024 were due to mental health reasons, marking a 22% increase from the same period in 2023 [3]. Group 2: Employer Considerations - Employers should adopt an employee-centered approach when dealing with FMLA leave, fostering sincerity in communication to encourage similar responses from employees [4]. - Clear policies regarding call-in requirements, certification obligations, and check-in procedures are essential for effective management of intermittent leave [6]. Group 3: Certification and Compliance - Employers often fail to adequately request or follow up on vague medical certifications, which can lead to issues in verifying the need for intermittent leave [7][10]. - The U.S. Department of Labor allows employees 15 calendar days to obtain a certification, and employers should be cautious about denying leave requests if certifications are late, especially if the employee is making a reasonable effort [11][12]. Group 4: Communication and Scheduling - Employers should establish a tight timeframe for employees to report their need for intermittent leave to prevent misuse [14]. - Expectations regarding the scheduling of medical treatments should be communicated clearly, allowing for reasonable efforts to minimize disruption to the employer's operations [16]. Group 5: Managerial Training - Proper training for managers is crucial to avoid missteps that could lead to legal issues regarding FMLA leave [17].

Group 1 - China's top court ruling invalidates workarounds for evading social insurance contributions, aiming to fund pension plans but potentially threatening jobs and businesses [1] - Small business owners are responding by offering new contracts that avoid required social insurance contributions, indicating economic trade-offs in boosting consumer demand [2] - A survey revealed that only 3 out of 18 employees reported their employers paying social insurance contributions, suggesting the ruling may not generate necessary funding for welfare [3] Group 2 - A 2019 report warned that the national pension fund could deplete by 2035 due to declining worker-to-retiree ratios, with a 2024 update suggesting delaying retirement could extend this by 8-9 years [4] - China is addressing industrial overcapacity amid deflationary pressures and trade frictions, balancing immediate employment needs with long-term reforms [5] - A survey indicated that only 34.1% of firms were fully compliant with social insurance rules, with 29.3% reporting disputes with employees over social insurance in the past year [6] Group 3 - Social insurance contributions in China typically amount to about 10% of gross income for employees and approximately 25% for employers, covering various benefits [8]

Core Viewpoint - The announcement of Robby Starbuck as a panelist at the SHRM Blueprint conference has sparked significant backlash from HR professionals and stakeholders, who argue that his presence undermines the principles of diversity, equity, and inclusion (DEI) that the conference aims to promote [2][3][4]. Industry Reactions - Many HR professionals expressed their discontent on LinkedIn regarding SHRM's decision to include Starbuck, highlighting that his views contradict the conference's focus on inclusion and meaningful outcomes in diversity [3][4]. - Critics argue that Starbuck's past statements, which label DEI initiatives as "poison," are antithetical to evidence-based HR practices and could legitimize harmful perspectives [7][11]. SHRM's Position - SHRM's president emphasized the organization's commitment to fostering diverse viewpoints, including those of both Starbuck and left-leaning commentator Van Jones, in an effort to reflect a broad spectrum of perspectives [2][13]. - The organization aims to create a balanced forum for discussion, although many stakeholders believe that the inclusion of Starbuck detracts from this goal and may not facilitate constructive dialogue [13][14]. Concerns About Qualifications - Questions have been raised regarding Starbuck's qualifications and experience in publicly traded corporations, with some industry veterans suggesting that his background does not align with the expertise needed to discuss DEI effectively [9][10]. - Critics argue that SHRM could have selected more qualified individuals to address the financial implications of DEI, such as CEOs or experts with a proven track record in the field [10][11]. Broader Implications - The decision to include Starbuck is seen as part of a larger trend of rollbacks in DEI efforts across Fortune 500 companies, raising concerns about the future of inclusion initiatives in the corporate landscape [4][12]. - Stakeholders fear that platforming individuals with extremist views could undermine the progress made in DEI and create a divisive atmosphere within the industry [6][14].