This article was written by Sloane Barbour, CEO and Founder, engin
Workers are flocking to jobs in cannabis for many different reasons. Some are attracted to the career opportunities, hoping to get in on the ground floor of an industry that’s expected to employ millions of people. Others are passionate about the plant and want to share their knowledge. Regardless of the inspiration, CareersInCannabis.com is witnessing between 800 – 1,000 job applications completed each day.
While the interest is there, many workers already employed in the industry find that their cannabis job doesn’t live up to expectations. The cannabis industry is unfortunately experiencing an annual turnover rate of 70 percent, a staggering number when compared to similar industries that witness a 40-50 percent turnover rate on average.
Why are cannabis industry employees so unhappy?
Analyzing Glassdoor reviews from the 12 largest cannabis companies on the platform (determined by number of employees), a few trends become clear.
Approximately 44% of the reviews were negative, with complaints about poor management, low pay, work-life balance concerns, lack of communication, and limited growth opportunities.
What can cannabis companies do to keep employees happy and reduce turnover (a costly expense that can add up to thousands of dollars per employee – not to mention its potential impact on customer experience)?
It’s not all doom and gloom however, with 38% of the reviews expressing a positive sentiment, highlighting great coworkers, positive work environment, decent benefits, and learning opportunities.
The cannabis industry is still in its infancy and, like any infant, will experience some growing pains. But one of the most vital components to corporate success is having the right team in place. If cannabis companies can continue to attract eager and talented employees, and keep them happy, we will be better able to achieve the half a trillion-dollar industry we are working to build.
Sloane Barbour is the CEO and founder of engin, a recruiting software and management system focused on hiring and job development in emerging industries like cannabis.