Return on Assets Not Investment
By Zia Sheikh of Restaurant After Hours
Opinions expressed in this articles do not necessarily represent the point of view of Best Served. In furtherance of bringing more voices to the table we are committed to sharing varied thinking throughout the industry.
Lately, I have been hearing the term ROI (Return on Investments) from business owners referring to people. “If you invest your time and energy into people, your bottom line will grow.” Anyone reading this article should consider not using the term ROI and begin to use ROA in relation to people. People are assets to your company, and it is important to keep them mentally healthy.
An asset is defined as a useful or valuable thing, person, or quality. I would like to rearrange that definition by stating, “People are valuable. A person can be a quality asset.” ROI measures profitability in terms of investments. ROA, on the other hand, indicates how efficiently your company generates income using its assets.
As we look at the current state of the industry itself, the hospitality industry is facing a mental health crisis. In the last few years, many hospitality workers, from celebrity chefs to barbacks, have shown strength in coming forward and speaking up about their struggles with substances, depression, anxiety, and eating disorders. COVID-19 then decimated our industry and exposed our lack of safety net to the core. Currently, our industry is facing a labor shortage across the board. This puts a large strain on retained workers and owners alike. One person is doing the work of three. The hours are longer, the work more stressful, and the pay is the same. From a business standpoint, this saves on costs, but reduces the efficiency by increasing the risks of anxiety, fatigue, burnout, depression, and substance misuse.
The industry needs to take a step back and start investing in themselves and in each other before our guests. We are not set up for long-term sustainability, and we will not be for many years, which is why it is exceptionally important we begin to make changes.
Increasing our ROA means setting up our people to be their most efficient. Taking care of their physical and mental health, providing balance in their lives, keeping them positive - all this together can strengthen our industry, our companies, our teams, and ourselves. There is power in community, and community is our most valuable asset.
Every person is different, bringing their own unique contributions and abilities. Learning how to nurture these gifts as a team, we can then learn to sharpen and hone our efficiency. That requires hard work, dedication, and starts with all of us.
Zia Sheikh Founder/Executive Director
Restaurant After Hours www.restaurantafterhours.org
Zia Sheikh grew up on Staten Island immersed in two very distinct cuisines. When he went out with friends in his neighborhood, he would usually eat Italian food or grab a slice at the numerous pizza parlors dotting the streets. But at home, he watched his mother make Indian food for the family and learned how to cook by mirroring her in the kitchen. Sheikh began his culinary career as a food service manager for Aramark and transitioned to working in the kitchens of several New Jersey restaurants as well as an externship at The Mercer Kitchen in Manhattan. He then moved to Philadelphia and became the chef tournant at 10 Arts by Eric Ripert and Zahav.
In 2007, he moved to New York and worked back of house at Tabla, North End Grill, ABC Cocina, White Street, Bricolage, and The Bombay Bread Bar during the ensuing decade. Working in the industry was taking a toll on Sheikh, and the late night culture of drinking and substance abuse enabled his addictions. When Sheikh had a near death experience, he decided to make changes to his life and went on sabbatical for six months to work on his mental health. Upon his return, he started Restaurant After Hours, a nonprofit that provides restaurants and industry professionals with mental health education, support, and resources.
