Already the fastest-growing industry in the U.S. job market, cannabis is quickly outpacing other industries, especially when it comes to employee benefits and compensation offerings.
As part of ForceBrands’ 2019 Talent Market Report, the just-released specialized cannabis edition explores the most popular incentives currently being offered; insights into what’s ahead for 2020; retirement benefits and leave averages; relocation package offerings; alternative incentives when unable to match desired salary; annual raises and variable pay incentives; and fair market compensation data.
ForceBrands surveyed more than 500 full-time professionals across the consumer products industry to examine the CPG talent market in more detail. This report looks at the data from the cannabis respondents who make up 10 percent of the total participants surveyed. Our respondents — hiring decision-makers including leaders at the Director, President/VP/SVP, C-suite level — were recruited to gather compensation and hiring data.
Some highlights from the data include:
- Cannabis offered the highest average raise percentage in 2018 at a staggering 14 percent — 4 percent more than the CPG cross-industry average and more than quadruple the national raise average
- When compared to other CPG industries, cannabis offers the most generous amount of leave, with an average of 12.5 weeks for maternity, 10.7 weeks for paternity, and 10 weeks for family leave
- Average cannabis salaries are as good as, if not higher than other CPG sectors