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The cannabis industry is an emerging market with great potential but also many grey areas in terms of human resources, banking, and production. Nevertheless, it is only a matter of time before marijuana becomes a high-performing agricultural commodity traded across the globe.
To ensure compliance with the various local, state, and federal rules and regulations, cannabis businesses need a solid HR policy. In this article, we will highlight the significance of cannabis human resources services and illustrate how proper HR management can benefit your business. Keep on reading to find out all about HR services for high-risk industries.
As a manager of a cannabis or any other similar high-risk business, you are bound to face a variety of unique challenges. This is why many business managers in the industry choose to hire HR services uniquely designed to meet the needs of cannabis businesses. Here’s what you should know about HR management services for this emerging market.
Human resource management experts who specialize in serving the cannabis industry need to stay on top of new local, state, and federal regulations. Since there’s no one-size-fits-all HR blueprint that will ensure compliance with these strict regulations, HR professionals are skilled in creating HR policies that meet the unique needs of each cannabis dispensary. These policies are designed to fit state-specific regulations, reduce compliance responsibility, and ensure rapid problem solving in response to any encountered challenges.
Another major challenge marijuana dispensaries face has to do with banking and payroll. Since cannabis is still considered to be a Schedule 1 drug, meaning that it’s enlisted in on the same level as LSD and heroin, it is still highly illegal in the eyes of the federal government. This makes it difficult for cannabis businesses to pay their employees legally, as many banks in the U.S. keep refusing to do business with them.
If you hire a full-service HR management company, they are likely to act as your banking partner. This means that they will offer appropriate and safe solutions to your payroll challenges and enable you to focus on more important aspects of your business.
According to recent studies, good onboarding programs can lift employee retention by 25% as well as improve their performance by a staggering 70%. This is particularly important for cannabis businesses as having the right people on your team is one of the key aspects of achieving compliance. With a dependable HR management company at your service, you can greatly reduce your onboarding time and costs and streamline your operations.
In order to ensure the trustworthiness of each new employee and build a winning team, it is crucial to perform in-depth background screening of new hires. In addition, all cannabis companies need to complete the I-9 Employment Eligibility Verification form to guarantee the identity of their employees as well as check their authorization to work in the U.S. HR consulting professionals can help you avoid any potential slip-ups by providing detailed background screening services as well as many other employee assessment and training tools.
At Green Leaf Business Solutions, we work hard to offer client-focused HR consulting services for cannabis companies and other high-risk businesses. Let us develop a HR policy tailored to your needs and keep your business running without a hitch. With us at your service, you won’t have to worry about unnecessary compliance blunders and stress over payroll challenges. Get in touch with us and maximize your chances of finding success in the cannabis industry. Call now.