The Rise Of Mike Keiser: How He Built His Fortune

Mike Keiser is an American entrepreneur and businessman who made his fortune in the staffing industry. He is the founder and former CEO of Automated Data Processing (ADP), one of the world's largest providers of human capital management solutions.

Keiser was born in 1944 in Rochester, New York. He graduated from the University of Rochester in 1966 with a degree in economics. After college, he worked as a systems analyst for IBM. In 1969, he co-founded ADP with his brother, Henry. The company initially provided payroll processing services to small businesses. Under Keiser's leadership, ADP grew rapidly and expanded its product offerings to include a wide range of human capital management solutions, such as human resources, payroll, benefits, and time and attendance tracking.

Keiser retired as CEO of ADP in 2001, but he remained chairman of the board until 2007. He is also the founder of The Keiser Foundation, a philanthropic organization that supports education, healthcare, and the arts.

how did mike keiser make his money;

Mike Keiser made his fortune in the staffing industry. He is the founder and former CEO of Automated Data Processing (ADP), one of the world's largest providers of human capital management solutions.

• Staffing industry
• ADP
• Payroll processing
• Human capital management
• Entrepreneur
• Philanthropy

Keiser's success in the staffing industry is due in part to his innovative use of technology. ADP was one of the first companies to offer payroll processing services to small businesses. The company's success led to its expansion into a wide range of human capital management solutions. Keiser's entrepreneurial spirit and his commitment to customer service have also played a major role in ADP's success.

In addition to his business success, Keiser is also a philanthropist. He is the founder of The Keiser Foundation, a philanthropic organization that supports education, healthcare, and the arts.

1. Staffing industry

The staffing industry is a major part of the global economy, and it plays a vital role in the success of businesses of all sizes. Staffing agencies provide a range of services, including:

• Temporary staffing: This involves placing workers in short-term assignments, typically to fill in for employees who are on leave or to handle seasonal fluctuations in workload.
• Permanent staffing: This involves placing workers in full-time, permanent positions.
• Contract staffing: This involves placing workers on a contract basis, typically for a specific project or period of time.

Mike Keiser made his fortune in the staffing industry by founding and leading ADP, one of the world's largest providers of human capital management solutions. ADP provides a range of services to businesses, including payroll processing, human resources, and benefits administration.

Keiser's success in the staffing industry is due in part to his innovative use of technology. ADP was one of the first companies to offer payroll processing services to small businesses. The company's success led to its expansion into a wide range of human capital management solutions.

The staffing industry is a dynamic and growing sector, and it is expected to continue to play a vital role in the global economy for many years to come.

2. ADP

ADP (Automatic Data Processing) is a leading provider of human capital management (HCM) solutions worldwide, and it played a pivotal role in how Mike Keiser made his fortune.

• Payroll Services
  

  ADP provides payroll services to businesses of all sizes, helping them to automate and streamline their payroll processes. ADP's payroll services include direct deposit, tax filing, and garnishments processing.

• Human Resources
  

  ADP also offers a range of human resources (HR) services, such as employee benefits administration, time and attendance tracking, and performance management. These services help businesses to manage their HR functions more effectively.

• Benefits Administration
  

  ADP provides benefits administration services, such as health insurance, retirement plans, and paid time off. These services help businesses to attract and retain employees.

• Tax and Compliance
  

  ADP helps businesses to comply with tax and labor laws. ADP's tax and compliance services include payroll tax filing, workers' compensation insurance, and unemployment insurance.

ADP's HCM solutions have helped businesses to improve their efficiency and productivity, and they have played a major role in Mike Keiser's success.

3. Payroll processing

Payroll processing is a critical part of any business, and it played a major role in how Mike Keiser made his fortune. ADP, the company that Keiser founded, provides payroll processing services to businesses of all sizes.

• Accuracy and efficiency
  

  ADP's payroll processing services are accurate and efficient, which helps businesses to save time and money. ADP's automated payroll system can process payroll in minutes, and it can also handle complex payroll calculations, such as overtime pay and bonuses.

• Compliance
  

  ADP's payroll processing services help businesses to comply with all federal, state, and local payroll laws. ADP's payroll system can automatically calculate and withhold taxes, and it can also generate the necessary payroll reports.

• Employee self-service
  

  ADP's payroll processing services offer a variety of employee self-service features, such as online pay stubs and direct deposit. These features make it easy for employees to access their payroll information and manage their finances.

• Integration with other systems
  

  ADP's payroll processing services can be integrated with other human capital management systems, such as HR and benefits administration. This integration can help businesses to streamline their HR and payroll processes.

ADP's payroll processing services have helped businesses to improve their efficiency, accuracy, and compliance. These services have also played a major role in Mike Keiser's success.

4. Human capital management

Human capital management (HCM) is the process of managing an organization's employees. It involves a range of activities, including recruiting, hiring, training, and development, as well as performance management and compensation. HCM is essential for any organization that wants to attract, retain, and develop a talented workforce.

• Talent acquisition
  

  HCM starts with talent acquisition, which is the process of recruiting and hiring new employees. This involves identifying the organization's talent needs, developing job descriptions, and advertising open positions. Once applications are received, the HCM team will screen candidates, conduct interviews, and make hiring decisions.

• Performance management
  

  Once employees are hired, the HCM team is responsible for managing their performance. This involves setting performance goals, providing feedback, and conducting performance reviews. The HCM team also works with employees to develop and implement performance improvement plans.

• Compensation and benefits
  

  The HCM team is also responsible for developing and administering compensation and benefits programs. This involves setting salaries, bonuses, and other forms of compensation. The HCM team also works with vendors to provide employees with health insurance, retirement plans, and other benefits.

• Training and development
  

  The HCM team is responsible for providing employees with training and development opportunities. This involves identifying training needs, developing training programs, and delivering training to employees. The HCM team also works with employees to develop and implement individual development plans.

HCM is a complex and challenging field, but it is also an essential one. By effectively managing their human capital, organizations can improve their performance, reduce costs, and gain a competitive advantage.

5. Entrepreneur

An entrepreneur is someone who starts and manages their own business. Entrepreneurship is the process of starting a new business, and it involves taking on the risks and rewards of doing so. Entrepreneurs are often driven by a desire to create something new and to make a difference in the world. They are also willing to take risks and to work hard to achieve their goals.

Mike Keiser is a successful entrepreneur who made his fortune in the staffing industry. He is the founder and former CEO of ADP, one of the world's largest providers of human capital management solutions. Keiser's entrepreneurial spirit and his commitment to customer service have played a major role in ADP's success.

Entrepreneurship is an important part of the global economy. Entrepreneurs create new businesses, which create jobs and stimulate economic growth. Entrepreneurs also contribute to innovation and technological advancement. The success of entrepreneurs like Mike Keiser is a testament to the power of entrepreneurship to make a positive impact on the world.

6. Philanthropy

Philanthropy is the practice of giving money, time, or other resources to charitable causes. It is a way for individuals and organizations to make a positive impact on their communities and the world. Mike Keiser, the founder and former CEO of ADP, is a well-known philanthropist who has donated millions of dollars to various causes.

Keiser's philanthropy is motivated by a desire to make a difference in the world. He believes that everyone has a responsibility to help others, and he is committed to using his wealth to make a positive impact. Keiser's philanthropy has focused on a variety of causes, including education, healthcare, and the arts. He has donated millions of dollars to universities, hospitals, and museums. He has also supported programs that provide job training and other services to people in need.

Keiser's philanthropy is a powerful example of how individuals can use their wealth to make a positive impact on the world. His donations have helped to improve the lives of millions of people, and his commitment to philanthropy is an inspiration to others.

FAQs about "how did mike keiser make his money;"

Mike Keiser is an American entrepreneur and businessman who made his fortune in the staffing industry. He is the founder and former CEO of ADP, one of the world's largest providers of human capital management solutions.

Question 1: What is ADP?

ADP is a leading provider of human capital management (HCM) solutions worldwide. ADP provides a range of services to businesses, including payroll processing, human resources, and benefits administration.

Question 2: How did Mike Keiser make his fortune?

Keiser made his fortune by founding and leading ADP. ADP's success is due in part to Keiser's innovative use of technology and his commitment to customer service.

Question 3: What is the staffing industry?

The staffing industry is a major part of the global economy. Staffing agencies provide a range of services, including temporary staffing, permanent staffing, and contract staffing.

Question 4: What is human capital management?

Human capital management (HCM) is the process of managing an organization's employees. HCM involves a range of activities, including recruiting, hiring, training, and development, as well as performance management and compensation.

Question 5: What is philanthropy?

Philanthropy is the practice of giving money, time, or other resources to charitable causes. Keiser is a well-known philanthropist who has donated millions of dollars to various causes, including education, healthcare, and the arts.

Question 6: What are Keiser's key takeaways?

Keiser's key takeaways include the importance of innovation, customer service, and philanthropy. He believes that businesses can succeed by providing excellent customer service and by giving back to their communities.

Summary: Mike Keiser is a successful entrepreneur and philanthropist who made his fortune in the staffing industry. He is the founder and former CEO of ADP, one of the world's largest providers of human capital management solutions. Keiser's success is due in part to his innovative use of technology, his commitment to customer service, and his philanthropic efforts.

Transition: Mike Keiser's story is an inspiration to entrepreneurs and philanthropists around the world. He has shown that it is possible to achieve great success in business while also making a positive impact on the world.

Tips Inspired by "how did mike keiser make his money;"

Mike Keiser's success in business and philanthropy provides valuable lessons for entrepreneurs and philanthropists alike. Here are five tips inspired by Keiser's journey:

Tip 1: Innovate to succeed. Keiser's success with ADP was due in part to his innovative use of technology. Businesses that want to succeed in today's competitive market must be willing to innovate and adapt to changing customer needs.

Tip 2: Focus on customer service. Keiser believed that customer service was essential to ADP's success. Businesses that focus on providing excellent customer service are more likely to retain customers and build long-term relationships.

Tip 3: Give back to your community. Keiser is a well-known philanthropist who has donated millions of dollars to various causes. Businesses and individuals can make a positive impact on their communities by giving back through philanthropy.

Tip 4: Be persistent. Keiser faced many challenges in building ADP into a successful company. However, he never gave up on his dream. Businesses and individuals who want to achieve success must be persistent and never give up on their goals.

Tip 5: Believe in yourself. Keiser believed in himself and his ability to build a successful business. Confidence is essential for success in business and philanthropy. Businesses and individuals who believe in themselves are more likely to take risks and achieve their goals.

Summary: Mike Keiser's journey is an inspiration to entrepreneurs and philanthropists around the world. By following these tips, businesses and individuals can increase their chances of success and make a positive impact on their communities.

Transition: Mike Keiser's story is a reminder that success is possible for those who are willing to work hard, innovate, and give back to their communities.

Conclusion

Mike Keiser's story is an inspiring example of how one person can make a difference in the world. Through his innovative approach to business and his commitment to philanthropy, Keiser has created a lasting legacy that will continue to benefit others for years to come.

Keiser's success is a reminder that success is possible for those who are willing to work hard, innovate, and give back to their communities. By following Keiser's example, entrepreneurs and philanthropists can increase their chances of success and make a positive impact on the world.