ForceBrands‘ recently released 2019 Talent Market Report surveyed more than 500 full-time hiring decision-makers and leaders across CPG. The report’s first edition explores benefits and compensation packages that employers are offering to retain and attract talent in today’s candidate-driven job market. The survey found that more than half of respondents (56 percent) offer employees customized benefits packages, a growing trend among employers to cater to the needs and demands of the multigenerational workplace.
As millennials — the largest generation in the workforce — mature, they continue to demand more flexibility between their professional and personal lives, meaning that the percentage of companies who offer paid leave is only expected to rise. Paid maternity leave (57 percent), paid family leave (52 percent), and paid paternity leave (47 percent) rank among the top ten benefits most commonly offered by CPG companies.
The industry that offers the most time for leave is cannabis. While the cannabis industry is growing at an incredible rate — generating $12.2 billion in sales and 296,000 new jobs — it’s not without its challenges. It’s far newer than other, more established CPG sectors, and is also a highly regulated industry which can make it more difficult to compete for talent.
In an effort to attract top talent, cannabis companies have been more generous with their leave policies than any other CPG sectors. On average, cannabis companies offer 12.5 weeks of maternity leave, 10.7 weeks of paternity leave, and 10 weeks of family leave. These amounts are nearly double the time granted by the wine and spirits sector (7.7 weeks maternity leave, 4.9 weeks paternity leave, and 4.5 weeks family leave), and at least two weeks more than the beer, beauty and wellness, and food/non-alcoholic drinks sectors offer.
For more CPG hiring insights, download the report here.