Cannabis Industry Benefits and Compensation | ForceBrands Newsroom

The Perks of Cannabis: Insights Into the Industry’s Benefits and Compensation Packages

Cannabis is currently one of the fastest growing industries in the world. With sales numbers that rival the tech and medical sectors, cannabis offers a lot of perks for those looking to grow a new career.

While the industry is huge in both market size and worth, it’s still very new. Those who work in the field are shaping it from the ground up — writing rules, establishing practices, and making decisions that will define the future of the industry. Boundaries can be pushed in cannabis in a way that few other, more established, industries allow, making this an enticing industry for movers and shakers.

According to ForceBrands2019 Talent Market Report, there are other, more measurable, benefits of working in the cannabis industry. Cannabis offers more leave than any other CPG sector. On average, cannabis companies offer 12.5 weeks of maternity leave, 10.7 weeks of paternity leave, and 10 weeks of family leave. These numbers are nearly double what the wine and spirits industry offers, and two weeks longer than what the beer, beauty and wellness, and food/non-alcoholic drinks sectors are offering. Younger generations like millennials, who place a high value on work-life balance, are enticed by more flexible work schedules.

But that’s not the only benefit this budding industry offers. Cannabis also offers the most generous raise averages. Emerging companies are enticing candidates with competitive salaries and 14 percent annual raises. To put that in perspective, the national average for annual raise percentages hovers around 3 percent. Aware that the competition for top talent is fierce, especially in today’s strong labor market, and feeling the heat when it comes to retaining current employees, cannabis companies are rewarding performance and loyalty where it matters most to their employees: monetary incentives.

Talent Market Report

For more insights like these, download the 2019 Talent Market Report here.