This is the fourth year Nevada Business Journal has featured the state’s “Best Companies to Work For” as a cover story. We are happy to publish information about companies doing their best to attract and retain employees, not only because it is useful information for our readers, but also because these companies can serve as examples of employers who are doing the right things. We’ve all heard horror stories about managers who mistreat employees, companies that purposely arrange things so they don’t have to pay benefits, and hard-working people left high and dry when their pension funds are hijacked by dishonest CEOs. Corporate America has taken some big media hits in the last few years – with the collapse of Enron, scandals involving high-living executives, and now complaints about moving jobs overseas in order to reduce payroll costs and avoid government oversight on issues such as worker safety and equitable pay.
As the voice of Nevada’s statewide business community, we think it’s time good employers got some press, too. Business owners and employers, on the whole, are honorable people. If we can help bolster the reputation of Nevada’s employers by promoting some examples of good behavior, we’re more than happy to do so.
Paying people a decent salary is only part of the picture. We believe wages should be negotiated between employer and employee, with as little interference from government or outside forces as possible. However, it makes sense to pay people what they’re worth, in order to get good people in the first place and make sure they stay once they’ve arrived. Employers should also try to put themselves in the other guy’s shoes once in awhile. Could you support a family on what you’re paying your employees? If not, how do you expect them to come to work cheerfully each day, give 100 percent of their energies, be loyal to you and promote your company to customers? We salute all the employers who have made the effort to provide decent wages.
Accountants may have come up with terms like “human resources” to describe the people who work for us, or we may refer to them as the companies “most important assets.” However, some of the things we can do to make employees happy involve the simple task of remembering that they are not assets, but people: with families, feelings and plans for the future. As employers, we need to keep our eyes constantly on the bottom line, but it’s useful to occasionally glance up and look at people’s faces.
Intangibles do make a difference. A word of praise or a plaque recognizing their contributions cost next to nothing, but can make a big difference in employees’ morale. The companies we feature in this issue have learned the value of praise and rewards. And what has come to be known as “teambuilding” is a good way to encourage people to work together and to think of themselves as part of the company. Annual luncheons or picnics, participation in Corporate Challenge, or working together on service projects can build friendships as well as loyalty.
We all know turnover is expensive. It would be an interesting exercise to figure out how much it costs to actually replace one of your employees. The University of Wisconsin has published an on-line form that can help you calculate the costs for your company. It can be accessed at: uwex.edu/ces/cced/publicat/turn.html#calc. It includes items such as the cost of hiring temporary help, testing expenses for applicants, and increase in unemployment insurance premiums.
But turnover also disrupts lives – not only for the person who leaves, but also for those who have to pick up the slack afterwards, and then deal with the “new guy” when he or she arrives. It creates stress for everybody, so if our “Best Companies to Work For” have figured out a way to reduce turnover (and stress), I’m all for it.
Creating a “Best Company to Work For” requires a commitment – from owners, executives, managers and human resources professionals. Investing in employee satisfaction may mean postponing profit-taking in the short run in order to ensure long-term success. We salute the 2004 winners and all those companies nominated for this year’s awards, as well as all those unsung employers who are doing their best to make their companies good places to work.