While many other industries around the country are struggling to find and keep workers, the cannabis industry continues to grow each year, increasing its employment numbers 75% over the past two years, according to the Vangst 2021 Cannabis Industry Salary Guide.
And for the first year ever, the report found that all surveyed companies offered benefits for their full-time employees with more than half providing paid time off, medical, dental and vision insurance and more than one-third providing 401(K) options, remote work schedules and long or short-term disability support.
“Our latest Salary Guide exemplifies how the cannabis industry continues to grow year-over-year despite recent hiring challenges in the mainstream business community,” Karson Humiston, founder and CEO of Vangst, said in a press release.
The 26-page report also details the average salaries in various roles throughout the industry, including multiple jobs in each of the cultivation, lab, manufacturing, retail and delivery sectors. The report highlights the increasing diversity within the cannabis industry, noting 37% and 40% increases in Black and indigenous workers, respectively, over the past year alone, though the industry remains more than 65% white.
The 2021 report notes the importance of developing high-profile talent. Surveyed companies found that elevating employees to leadership positions improved retention rates and reduced training expenses. Companies viewed professionals who rose from entry-level positions to executive roles as especially valuable to the organization and industry at large.
Looking ahead, the report predicts an additional 100,000 jobs will be created in 2022 as the legal industry expands to include Connecticut, New Mexico, New York and Virginia.