99°F
weather icon Mostly Clear

Capitalists must value employees

As a former small business owner, I am a big proponent of capitalism. Capitalism is the primary engine that our economy is founded upon. Small businesses, entrepreneurship, free enterprise are some of the elements that make up the foundation that keeps our country’s economic engine purring.

Extraordinary ideas, inventions and revolutionary breakthroughs are products of capitalism, but nothing is perfect. In my many years in business I have come to learn what the most valuable asset is. If you ask many business owners what they think their most important asset is, you will often get a number of interesting answers. A new, expensive machine used in the production of their product, a new company vehicle to make deliveries or perhaps a new manufacturing facility. Even “customers” are frequently regarded as the greatest asset.

All of the above are vital assets for sure but what is often left out of the equation is the most significant and that is, what I have come to learn: the employee. There is an old saying that declares, “Business would be easy if it wasn’t for the employees.” The more appropriate adage should be, “If it wasn’t for the employees, this business would die.”

As businesses begin to open in this post-COVID era and attempt to resume normal operations, it is becoming more evident how essential an employee is. Many companies are struggling to find people. Putting aside for a moment the political reasons many individuals are not seeking work, this current climate demonstrates that the fundamental need for workers is crucial to the success of any enterprise.

Business owners must take care of their employees, pay them well, provide the necessary and often essential benefits that they deserve, treat them with respect and honor their loyalty to you and the organization.

With all of that said, let’s not leave out profit. A business must be profitable to endure. A business owner is constantly juggling priorities, hiring and firing, mitigating circumstances often beyond anyone’s control all in the quest to minimize losses and maximizing gains. When an organization becomes profitable, the ownership of that business should reap the rewards.

However, it is important to not leave out the individuals that made it possible. My note to owners out there is, “Don’t get greedy.”

A recent newsworthy story about a titan of industry purchasing a $500 million sailing yacht is somewhat concerning, given that he is reluctant to provide pay raises and certain benefits to an enormous number of his employees. Is there a hint of greed there?

What better time to reassess your relationship with those that work for you? My message to all business owners is to reacquaint yourself with your current employees, get to know your new hires and, most importantly, share the wealth. Be fair to yourself and your shareholders but, by all means, be fair to them.

As we all get back to doing our jobs following the most unprecedented episode in our history, capitalism will continue to endure as long as those in leadership roles do not leave their most important asset out of the equation: your employee.

The opinions expressed above belong solely to the author and do not represent the views of the Boulder City Review. They have been edited solely for grammar, spelling and style, and have not been checked for accuracy of the viewpoints.

G. Kevin Savord is currently a professional pilot and former small business owner. He can be reached at gksavord@gmail.com.

THE LATEST
A story of reconciliation amidst division

I keep going into the week when it is time for me to write a column with an idea that I know I want to write about but events keep pushing that idea further out into the future.

Who did more for veterans?

Did President Joe Biden or President Donald Trump do more for America’s veterans? It all depends how one keeps score: Introduce laws? Pass laws? Do large things, or many small things? Important things, or things that were not so important?Below are two examples according to Military.com.

Holy smokes!

Two weeks ago on June 25, I received messages from panicked individuals at the Elks Lodge RV Park stating that the Boulder City Fire Department had been conducting a controlled burn that had gotten out of control.

July is PR Month

For nearly 40 years, the nation has celebrated Park and Recreation Month in July to promote building strong, vibrant, and resilient communities through the power of parks and recreation.

July 4 safety and awareness checklist

As we celebrate our great nation’s birthday, let’s run down this safety and awareness checklist so we can have a blast this 4th… but only the good kind.

“Be Kind, Be Boulder” this Fourth of July

Happy Birthday, America! Today, we celebrate an act of autonomy and sovereignty that happened in 1776, nearly 250 years ago: the Founding Fathers signing of the Declaration of Independence established this great nation. (It would be another 155 years before Boulder City’s founders arrived to construct Hoover Dam!)

Ensuring fire safety at Lake Mead

At Lake Mead National Recreation Area, our mission extends beyond preserving the natural beauty and recreational opportunities.

Independence Day in Boulder City

I was elected to the Boulder City council long ago. Believe me, there were more exciting events that occurred during city council meetings in the mid-to-late 1980s than there are at present. We had Skokie Lennon who arrived in the council meetings while standing at the back of the room. When he had something to say he would erupt with the statement “can you hear me?” Of course we could since he was the loudest person in the room. He would say what he had to say and then leave.

Nothing to fear

A June 13 letter by Norma Vally claimed Pride Month in Boulder City is an example of identity politics that will cause divisiveness in our safe, kind, and welcoming town. I cannot disagree more.

Save me some confetti eggs

In last week’s edition, I wrote a preview of the upcoming July 4 celebration and described Boulder City’s biggest day of the year as if a Norman Rockwell painting had come alive and jumped off the canvas. I had a few people praise me for that description, saying it’s the perfect way to do so.