As a cannabis executive, you've likely felt that pinch of anxiety that comes from worrying about staffing gaps, turnover, and the overwhelming task of building a resilient, productive team. And while the core of any successful business remains its people, s-suites and owners are often plagued by an all-too-familiar conundrum: how to attract, develop, and retain top-tier talent in a space that's not just competitive, but also laden with regulatory hurdles and stigma.
With average turnover rates exceeding 55% in cannabis in the past year alone, it’s clear there’s a larger problem at hand. So how do you step out from the crowd and diminish these trends plaguing the industry?
Winning With People First
In cannabis, the ability to make your company not just an employer but the employer of choice can be the difference in constant turnover and a committed team. Getting to that point, though, is far more difficult than just snapping your fingers. The key lies in treating your employees as your most valuable asset.
People are not just resources; they are the building blocks of your business. A ‘People First’ approach is not an HR buzzword but a strategic move that pays rich dividends. When you prioritize people, you're making a long-term investment in the future of your company and establishing an organizational culture that prizes human capital as much as any other asset.
This lays the groundwork for attracting talent that is not just skilled but also deeply committed to your mission and vision. The perks of prioritizing your people include:
- More Productivity: Skilled employees can do more in less time.
- Less Turnover: When people feel valued, they are less likely to leave.
- Staff Continuity: A stable team allows for uninterrupted workflows and better collaboration.
- Increased Revenue: Ultimately, all of these benefits translate into better business performance and increased revenue.
The takeaway here is simple but profound: put your people first, and they will take care of your cannabis business. Now, how can you effectively navigate talent to reap these benefits?
Step 1. Attracting & Recruiting
Before you even begin searching for candidates, it's critical to lay the foundation for a streamlined and efficient hiring process that addresses your specific needs and challenges. The first step? Planning. And the planning starts long before the interview room is occupied.
1. Identify Talent Needs
Begin by examining your organizational chart, or in some cases, creating your org chart. What roles are essential for your cannabis business, be it in cultivation, retail, or manufacturing? Are you missing an expert in regulatory compliance? A master grower? Or perhaps a team of budtenders? Knowing what you need is the first step to finding who you need.
2. Search, Qualify, and Present Candidates
This is where specificity pays off. Target job boards, networks, and communities where professionals in the cannabis industry frequent. Once you've sourced candidates, qualify them not just based on skill set but also on how well they align with your organization's culture and goals.
3. Prepare the Interview and Reference Checks
A candidate's history in similar roles could offer invaluable insights. Prepare your interviews to understand not just competency but also compliance with industry standards, past work serving cannabis customers, and other industry-specific traits.
4. Interview and Debrief
Conduct interviews that in a way that allows you to assess cultural fit and skill alignment. After each interview, take time to debrief with your team. What did you learn about the candidate? Does this person fulfill your talent needs and will they thrive in the cannabis sector?
5. Coordinate the Selection and Offer
Once you've zeroed in on the right candidate, it's time to extend an offer. However, remember that top talent is likely being courted by others in the cannabis industry. Therefore, your offer must be competitive, not just in terms of salary but also in employee benefits and growth opportunities.
6. Transition and Day 1
The first day is not just about paperwork and orientations; it's also about making the new employee feel a part of your family. A well-structured day 1 can set the tone for a long-standing relationship.
7. Post-Placement Follow-Up
Don't think your work ends once the contract is signed. If anything, this is where the real work begins. Regular check-ins, especially during the first few weeks, can help new hires settle in and address any potential issues before they escalate.
By meticulously planning each step of the hiring process, you ensure that you're placing the right people in the right seats from the get-go. In an industry as nuanced and dynamic as cannabis, this kind of preparation can make all the difference in your talent management journey.
Step 2. Developing Talent
So you've successfully onboarded some top-notch talent for your cannabis business — great start! But hiring is just the opening act; what keeps your staff invested and productive is how you develop their skills and career paths.
In an industry as specific and regulated as cannabis, generic training programs simply won't do the trick. Customized content is the shining light that your employees need to thrive! Here are the three types of training opportunities to focus on early.
1. Growth in the Role
First thing's first: Employees need to deeply understand their specific roles. For example, a budtender should be an expert not only in sales but also in the types of strains, legal requirements, and customer needs.
- New-Hire Training: Kick things off by acquainting new hires with the company culture and how business is done around here.
- Web-Based Training: Keep the momentum going with focused online courses. Think topics like understanding cannabis strains or the legalities of selling them.
- Instructor-Led Training: Dive deeper into the nuances of each role. For a budtender, this might include hands-on sessions for understanding customer preferences or how to upsell effectively.
2. Individual Leadership Coaching
It's one thing to do your job well; it's another to lead in that role. Leadership coaching helps employees rise through the ranks, which is essential in a fast-paced and evolving field like cannabis. And yes, everyone in your newly defined org chart deserves access to leadership training, from budtenders to compliance officers.
3. Executive Coaching
For the C-suite folks and business owners, executive coaching shifts the focus to top-level challenges. Whether it's strategic planning or navigating mergers, this specialized coaching helps you set the pace rather than just keep up with it.
By prioritizing these diverse training opportunities, you're sending a clear message to your team: you're invested in their growth. And when they see that commitment, they're more likely to be engaged, productive, and beneficial for your cannabis business in the long run.
Step 3. Retaining Talent
You've attracted them, you've trained them, but how do you keep your top players in the cannabis industry from exploring greener pastures? The answer lies in a mix of genuine engagement, clear communication, and a sprinkle of creativity. Let's dig into some best practices that can turn your employees into raving fans of your business.
1. Be Transparent and Authentic
First off, honesty is the best policy. Setting clear expectations from the start makes performance assessments down the line a whole lot easier.
Let's revisit our budtender example. Clearly communicate what success looks like in their role—whether it's sales targets, customer satisfaction scores, or compliance with regulations. This way, you can offer performance-based bonuses, promotions, or other forms of recognition that make sense.
2. Be Unique and Creative
Stand out from the cannabis crowd by adding your own special touch to the employee experience. How about an engaging welcome kit with company swag and essential reads on cannabis culture?
Or maybe conduct regular engagement surveys to keep a pulse on team morale. Monthly team-building activities, like a cannabis tasting event or a "Stump the Budtender" trivia night, can go a long way in keeping your team engaged and connected.
3. Be Consistent
We all know that one person who's all talk and no action, right? Don't be that guy. If you launch a new performance incentive or announce a team-building event, follow through. Consistency is key to building trust, and nothing can erode employee confidence faster than unmet promises.
By incorporating these practices, you're not just retaining employees; you're turning them into brand ambassadors. These are folks who genuinely enjoy coming to work, are fully engaged in their roles, and can't wait to contribute to the success of your cannabis business.
Conclusion: People-First Talent Management in the Cannabis Industry
The challenges of attracting, developing, and retaining a skilled workforce in the cannabis industry are all too real. C-suite leaders and owners, we get it—finding and keeping the right talent is a complex equation.
From the initial stages of attracting and recruiting the right candidates, to developing their skills through specialized training and coaching, and finally retaining them through transparent, authentic, and engaging practices, the 'People-First' approach is an end-to-end solution for your workforce woes.
To truly become the employer of choice in your cannabis niche, consider enlisting expert help. We have a comprehensive suite of services as well as industry-leading partner relationships to give you everything you need from a talent management perspective in one place.
The result? You can streamline these complex processes and focus on what you do best — running a successful cannabis business.
So why go it alone? Let's talk about how we can help elevate your talent management strategy today!