November 12, 2020 \\ Volume 3
Employee Ownership Proves Track Record Amidst COVID-19 Pandemic
Colorado Office of Economic Development and International Trade
blog post November 9, 2020
A recent report published by the Employee Ownership Foundation shows that employee-owned companies have outperformed non-employee-owned counterparts throughout the pandemic. While the pandemic introduced new economic challenges, majority employee-owned companies have shown incredible resilience and ability to maintain stability. 

Employee Stock Ownership Plans (ESOPs) have seen many benefits from their business model. Among these benefits are a higher ability to retain employees, maintain standard hours and maintain salaries. As compared to other firms, majority employee-owned companies were 3 to 4 times more likely to retain staff at all levels. 

Beyond these impressive numbers, employee-owned companies care about their employees. Majority ESOP firms were proven “more likely to provide protective measures for employees” such as personal protective equipment and cleaning services versus other firms. They were also found more likely to send employees home to work remotely during the pandemic, allowing them to maintain their health and safety. (...)

Stay Safe
Updates from the Colorado Manufacturer's
COVID Taskforce
Last month we featured an article from a volunteer collaborative called the Colorado Manufacturer’s COVID Taskforce that has been supporting manufacturers with programs to identify pivot opportunities and resources to help businesses stay safe and viable.

To date, they have assisted 27 different organizations by using their COVID Safety System to help companies sort through the complexity of CDC, State, and local government safety guidelines to ensure the safety of the facility and the people.

Some of the organizations they have worked with include:
  • Telluride Mountain School
  • Telluride Elementary School
  • La Plata County Jail
  • La Plata County Courthouse
  • Durango Home Services
  • La Plata County Senior Center
  • Ridgway Elementary School
  • Ridgway Town Hall
  • Ouray City Hall
  • Several businesses in Weld, Boulder, and Jefferson Counties
 
They have also launched a partnership with Longmont EDP and City to be considered eligible services for both the COVID Safety System as well as their PATCH (Pivot Assessment Training and Coaching), which is a 6-step program focused uniquely on helping businesses pivot successfully.


Stay Informed
Finding Reliable Data
As infection rates increase, arming yourself with accurate data will help you make informed decisions. But, who can you trust and how do you sort out the reliable info from the noise? Here are some of the dashboards and resources we use internally at Manufacturer's Edge to shape our own COVID policies.

As always, there is a lot to sort through and we are always happy to assist. Please contact us if you need any help navigating these complicated waters. If we don't have the answers, we will find the people who do. You have enough on your plate right now. Let us do the legwork while you keep doing what you do best. We are here to help.

Everyone receives and digests information differently. If you are a visual person, you should take a second to check out this jaw-dropping timelapse illustration from the Colorado Department of Public Health & Environment. Perhaps one of the most visceral expressions of the increase in cases we are seeing across the state.
Stay Connected
Finally, we would like to share with you something that is pretty cool. Our sister center in New Jersey, inspired by the heroic efforts they have been witnessing from the manufacturing community in response to the pandemic, decided to commission what is most likely the first song ever written about manufacturers. Bruce Springsteen may argue that he's already written songs about manufacturers, especially the ones in New Jersey, but the claim remains.

If you have a second, take a listen. We hope it will at least bring a smile to your face and we could all use one of those right about now.