Cannabis Employees – A Buyer’s Market

How something so simple is costing local cannabis companies, everything.

One simple act by an employer can make their business go from a “stepping-stone” to a “career opportunity” real quick. We are obviously talking about: Employee Benefits.

But, if you think I am just referring to 401(k)s and Dental insurance…you should probably keep reading because you are wayyy off. Employee Benefits are a lot more than opt-in insurances that make your inadequate salary somewhat worthwhile.

From Prohibition to Competition

With 64% of Americans supporting legalization, it’s safe to say that the Cannabis Industry is on the tipping point of finally coming out of the “prohibition-era” and into the mainstream American workforce. Whether you like it or not, soon cannabis employers will have to get creative in order to attain and retain quality employees within their respective organizations.

Just like 5-star restaurants, cannabis growers need to take care of their “head chef” or Director of Cultivation. This position is so important, that reported salaries, in America, are ranging from $47,000 to $250,500 and above! If I knew how much money a cannabis-grower could make 5 years ago…let’s just say I wouldn’t be the author on this blog post. Just like growers, dispensaries need quality employees. According to reported salaries in 2018 alone, a Dispensary Store Manager could earn anywhere from $41,500 to $98,000. These are the jobs that can make or break a marijuana-related business but high salaries alone will not guarantee 100% retention.

Benefits for the 21st Century Cannabis Employee

Don’t get me wrong. A 401(k) is a necessity nowadays including your basic health, dental and vision insurance. But, today’s workers are looking for more “work-life” benefit options. I am talking about Paid Time Off (PTO), Wellness Programs, Counselling Programs, Personal Legal Coverage, and Flextime.

These are some of the most requested work-life benefits that seem to, not only attract new and engaging employees but retain quality employees as well. By offering against-the-grain benefits that put the employees first can drastically set your business apart from the competition.

From CEO to Champion PEO

Worklife and standard employee benefits can be hard to procure when you are operating in the cannabis industry. Most commercial carriers that offer these types of benefits will outright not deal with any business who takes in cannabis-money. So..what do you do? Believe me, I wouldn’t have written this article and stayed late at work if I was not planning on providing a turn-key solution to the cannabis-industry-benefit-situation. In comes, Champion PEO. Champion was born in Michigan but set its sights on servicing the Cannabis Industry by being a middleman between Marijuana-Related Businesses and commercial carriers. If you are not familiar with what a PEO is, I suggest you read my other blog “Small Businesses Need Big Employee Benefits“. Yes, I am somewhat obsessed with benefits.

By teaming up with Champion PEO, you can now offer a turn-key suite of benefits to your worksite employees. From your standard 401(k), Health, dental and Vision coverage to more work-life benefits such as wellness programs, certification tracking, Flextime implementation, and personal legal plans. There is no doubt that having the best work-life programs to offer your new recruits and existing employees, you will soon see increases in production and efficiency while watching your turnover diminish before your very eyes.