Early Life and Education
Chad Richison was born and raised in Oklahoma. He graduated from Tuttle High School and holds a Bachelor of Arts in Mass Communications from the University of Central Oklahoma (1993). His early career included a role in sales with ADP, a national payroll and HR company. He then worked for a regional payroll provider before founding Paycom in 1998.
Rise to Success
Richison founded Paycom at the age of 27. Paycom was one of the first companies to process payroll completely online. The company's innovative approach, focusing on employee self-service technology, led to rapid growth. In 2014, Richison took Paycom public on the New York Stock Exchange. The company has consistently been recognized as one of the fastest-growing companies in the U.S. by various publications.
Key Business Strategies
Richison's leadership emphasizes automation and employee empowerment. He focused on streamlining HR processes and simplifying the employee experience through technology. This strategy led to high client retention rates and recurring revenue for Paycom. The company's focus on innovation and customer perspective has driven its success.
Philanthropy
Chad Richison is involved in various philanthropic efforts. He founded the Green Shoe Foundation, which helps adults reconcile childhood traumas. The Richison Family Foundation supports organizations in children's education, foster care, food supplies, and mental health. Richison is also a signatory of The Giving Pledge. His philanthropic initiatives include significant donations to the University of Central Oklahoma and support for the American Cancer Society's Hope Lodge.
