March 2018

Manufacturers Edge presents Highlighting Colorado Manufacturers Video Series: Custom Microwave, Inc.
Manufacturers Edge presents Highlighting Colorado Manufacturers Video Series: Custom Microwave Inc.
In this issue:
Upcoming Events
A monthly article featuring tips and insight from Manufacturer's Edge Cyber Program Director Jennifer Kurtz who will show you how to make sense of cyber -- simply! 
What are your odds for picking the perfect security bracket around your information and its supporting systems? Probably worse than the odds of crafting the perfect March Madness bracket, which some mathematicians calculate as one in 9.2 quintillion. And yet, you probably know someone who is willing to play the odds: an estimated $10 billion was bet on March Madness outcomes in 2017, according to the American Gaming Association. As a comparison, US organizations spent about three times as much-$31.5 billion-on cybersecurity tools and services in 2016. Those betting on either should be using similar techniques for making their picks, starting with identification (AKA reconnaissance, also, the starting phase for pragmatic hackers).

Reconnaissance is the essential information-gathering phase during which you identify the components of your information system. It requires taking a physical inventory of devices; a discovery inventory of software; a process inventory of automated scripts, system interfaces, and information transfers not readily visible; and a personnel inventory of access privileges. Although documenting your system inventory is time-consuming, you can't protect what you don't know you have-and can't reliably detect, respond to, or recover from undesirable or unscheduled system changes. What you don't know can hurt you(...)
Sumer Sorensen-Bain of Manufacturer's Edge and Heidi Hostetter of Faustson Tool and H2 Manufacturing Solutions celebrate International Women's Day in Washington DC
shaneWhat Does the Denver Housing Market Have to Do with Talent Acquisition and Retention?
by Shane Barber, Director of Organizational Excellence
As we all know, housing in the Denver area is a booming sellers' market. The current market is generally characterized by the simple concept of supply-and-demand due to the vast number of people moving into the area coupled with a shortage of available homes. Similarly, the talent acquisition market is in virtually the same position. Stated simply, we are experiencing a shortage of technical skills in the hiring pool. Colorado has one of the lowest unemployment rates in the nation, currently sitting at or below 3%, compared to the national average around 4%.

Just 4 years ago, there were 750,000 skilled labor jobs that we could not fill in the U.S. Today, that gap continues to expand as skilled labor Baby Boomers retire in large numbers. Just like the sellers in the housing market, employees who possess technical skills are at a distinct advantage. The employee is actively shopping for a position at or above market because of demand. It is no longer a hiring market where the employer can set the salary "price" and have a slew of qualified applicants lined up out the door. It is even harder to retain the current employee base if your organization is not able to maintain a competitive salary market rate or create an environment where people want to stay. At Manufacturer's Edge, we have seen clients experience employee turnover rates as high at 42%. That means that they are losing 42% of their workforce every year. There is a war on talent and the best "package" just might make the difference between winning and losing.

The key to retaining employees is no longer exclusively salary based, however. Employee attraction and retention is also driven by keeping employees engaged in their jobs, having a strong and clear mission or strategy that the employees stand behind, offering ongoing training for developing new skills, giving frequent feedback on performance, setting specific short-term goals and future growth opportunities, and having a positive company culture. It is a lot to think about when, as a society, we are accustomed to an "if you build it they will come" mentality. Simply posting a position no longer guarantees that position will be filled. So, what can employers do?

The good news is that Manufacturer's Edge can help! (...)

events Upcoming Events
Visit our website for a complete calendar of
manufacturing events taking place around Colorado
Aerospace Day at the Colorado Capitol
March 19 @ 8:30am-6pm
Join us for a full day of networking and dialogue with our Colorado Legislators discussing how Colorado became one of the largest space economies per capita in our nation and how they can effectively support aerospace in our state.

Technology AdvantEDGE Series: Building a Business Case for Additive
March 29 @ 9am-5pm
Join this 1-day hands-on workshop to understand how your organization can create a business case for metal additive manufacturing. Presented by Manufacturer's Edge, H2 Manufacturing Solutions, OEDIT, and GE Additive. 
2018 Colorado Manufacturing Awards
April 5 @ 5-8pm
Trade organizations and associations from across the wide spectrum of Colorado manufacturing industries will be recognized for their support and advocacy of manufacturing. Presented by Company Week and Manufacturer's Edge.
4th Annual NOCOM Manufacturing Trade Show
April 12 @ 9am-5pm
Over 100 exhibitors, a kickoff breakfast with keynote speaker Jim Davidson, a speaker hall featuring industry leaders, presentations & workshops, and a B2B lounge.

World Trade Day 2018
May 15 @ 8am-6:30pm
World Trade Day is the premier international business conference in the Rocky Mountain Region. Join us for a day of key-note speakers, short talks by trade experts, peer-to-peer learning, and a networking reception.
Save the Date:
Jeffco EDC's 3rd Annual Aerospace & Defense Small Business
Industry Day
Thursday, June 28
Sheraton Denver West Hotel
Details to follow.

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