2014 was monumental for Paycom and I want to take a moment to reflect on the year that has passed since our initial public offering on the NYSE. In those 52 weeks, we’ve developed and released nine new major products or enhancements, added many new clients and witnessed the value of our stock more than double.
The reason for our success is due to our unique value proposition: Paycom’s innovative technology, motivated people and astounding growth.
This well-deserved national visibility resulted in an all-time high in the demand for our single-database human capital management solution. Businesses across the country are taking notice and realizing the true benefits of having one solution for all their HR needs. They get it.
Technological advances in reporting, employee engagement and the ever-changing Affordable Care Act continue to spur our company’s growth while also bettering organizations’ abilities to manage their workforce.
Paycom’s award-winning culture – that’s a fancy way of saying our employees – is unlike anything I’ve seen before. Whether it is dealing with a prospect, client or co-worker, everyone at Paycom exhibits an attitude of servitude. They are passionate about the work they do and the impact it has on others. We’ve long been recognized as a Best Place to Work in Oklahoma, but in the last year, our culture won national acclaim. Glassdoor recognized us as one of the 50 Best Companies to Work For and HR.com’s Leadership 500 ranked us first in the midsize business category.
While I haven’t been with Paycom since its birth, I have witnessed astounding growth. In the three years since joining this team, Paycom has experienced a compound annual growth rate of 38 percent, and with a total addressable market of nearly $24 billion, I know this is only the beginning.
You see, for Paycom, ringing the bell symbolizes continued growth for our people and technology. It symbolizes the pioneering fearless spirit of our founder and of the people who make Paycom what it is today.
It’s been an exciting year, but nothing is more exciting than what’s to come.