As America’s fastest growing industry, the cannabis industry is in demand for educated, talented and ambitious professionals ready to drive the industry forward. As the industry continues to grow and legalize across the country, cannabis companies continue on onboard hundreds of new employees. Unfortunately, in 2014, 76% of cannabis business owners reported turnover as one their biggest challenges. Additionally, seven out of ten cannabis business owners reported they were unhappy with their current employees, and their employees didn’t possess the skills needed to drive their business forward. These hiring mistakes hurt. The economist calls unsuccessful hiring the “single biggest problem in business today” and the average hiring mistake costs a company fifteen times that person’s annual salary. This statistic becomes even more disturbing when you consider the typical success rate of managers to be only 50%.
As the cannabis industry continues to become increasingly competitive to survive in, companies operating as “mom and pop shops” with cousins, siblings, friends and underqualified employees are going out of business, while companies with top talent are continuing to thrive. Take for example Canna Advisors, a top cannabis consulting group based in Boulder Colorado. Canna Advisors is committed to onboarding only the most educated, skilled and ambitious team members. The results speak for themselves, Canna Advisors has an 83% license application success rate, and has won fifteen licenses across the country!
One way to ensure your cannabis company survives as legalization spreads is to avoid hiring mistakes, and onboard the best talent. The best way to ensure successful hires is to hire an external recruiting agency. The reason for this is simple, locating talent is not your company’s core competency. Allocating the extensive amount of time and resources required to onboard top talent is an inefficient use of your time. While you have the know-how to cut the grass and weeds outside of your office, is that really where you need to put your time? Same goes for recruiting, while you could spend years mastering recruiting techniques to ensure successful hires, you are better off growing and operating your business, and outsourcing recruiting.