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Looking for Comprehensive HR Solutions designed specifically for the Cannabis Industry?

Greenleaf HR can help your business maximize efficiencies through a variety of integrated HR solutions and simplified processes while also providing you with superior benefits packages and incentive programs for your employees.

What is impacting the health of your business?

With the cannabis industry growing so quickly, it can be difficult to keep up with day-to-day business operations, especially payroll and HR. Don’t let the constantly world of new law and regulations keep you from your passion. We can help keep you compliant with state and federal human resource and payroll laws, as well as managing your personnel.

We are not a cookie cutter company, and neither are you. Through an in-depth diagnostic, we identify critical challenges within your organization and then customize a solution to put your back-office administration on the road map to success.

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Highlights

  • Cannabis businesses in the U.S. face unique challenges, from strict and ever-evolving regulations that vary across each state, to limited payroll providers.
  • By partnering with a cannabis PEO, companies can gain access to specialized professionals and intuitive technology.
  • At GreenLeaf HR, we provide PEO services to help cannabis businesses handle the administrative side of their business with ease. Contact us to get started!

Companies in the cannabis sector face unique HR challenges. With ever-changing regulations across different states and difficulties with payroll and banking, there are many hurdles to navigate. But fortunately, cannabis PEOs can help.

By partnering with a specialized firm, businesses in the cannabis industry can find the support, expertise, and technology they need to handle HR admin tasks.

Keep reading to learn more about cannabis PEOs and what makes them a vital resource for companies that want to scale and be more efficient.

Let’s get started!

Discover the 7 Reasons Why You Need to Hire a Cannabis PEO

What Is a Cannabis PEO?

A cannabis PEO is a Professional Employer Organization that provides HR solutions and services specifically designed for businesses in the cannabis industry.

Managing the administrative side of a cannabis business can be complex and highly time-consuming. By joining forces with a PEO, companies can delegate the responsibility of routine tasks —like payroll processing, benefits administration, compliance assistance, and risk management— and have more time available for higher-impact activities.

In such a heavily regulated industry, with legal requirements and industry standards evolving all the time, having an experienced partner by your side is the best alternative to ensure your cannabis business always stays compliant.

7 Reasons to Hire a Cannabis PEO

PEOs are on the rise in the U.S., with over 500 of them providing services to small and mid-sized businesses. With so many options, it might be difficult to find the right one for your business.

Choosing a PEO specialized in the cannabis sector is a wise, strategic move, as they are well-equipped to provide HR solutions tailored to your company’s needs and stay on top of cannabis regulations.

Here are the top 7 reasons to hire a cannabis PEO:

Gain Access to Industry Expertise

The cannabis industry has unique needs and fast-changing regulations that vary by state, so why not rely on the expertise of a cannabis PEO?

A specialized PEO knows the ins and outs of the sector’s legal landscape, including state regulations, licensing requirements, and compliance standards. This expertise allows them to provide tailored HR solutions that address the industry’s nuances, keeping your business safe and compliant.

Minimize Compliance Risks

Staying compliant is crucial for cannabis businesses. Companies need to follow strict regulatory procedures across the entire product lifecycle, from seed to sale. This involves having appropriate licenses, maintaining accurate record-keeping, labeling products accordingly, implementing security measures, and more.

Failing to comply with regulatory requirements can lead to negative consequences like license suspensions, fines, product recalls, and of course, the subsequent loss of consumer confidence.

With a cannabis PEO monitoring compliance at all times, you can be sure that your business’s HR best practices are aligned with industry-specific laws, reducing the risks of legal issues and keeping consumers safe.

Attract and Retain Top Talent

The American legal cannabis market is a fast-growing industry, with sales forecasted to reach $31.4B in 2024. This means that cannabis jobs will continue to be on the rise and companies will need to find competitive ways of attracting skilled professionals.

In this context, employee benefits play a decisive role.

By partnering with a cannabis PEO, companies can gain access to comprehensive employee benefits packages, including health insurance, retirement plans, and other perks. These benefits, typically unavailable to smaller companies, can yield a competitive advantage and help your business attract and retain top talent.

Make Payroll Processing More Efficient

Managing payroll can be complex and time-consuming, especially in the cannabis industry with its unique payroll considerations and the difficulties of accessing the U.S. financial system.

A cannabis PEO can help you streamline the entire payroll process, ensuring your employees are paid accurately, on time, and in compliance with tax regulations.

Mitigate Safety Risks

From workplace safety protocols to employment practices liability, cannabis businesses face various risks. A cannabis PEO can help you mitigate these risks by implementing best practices, safety training, and insurance coverage tailored to the industry’s needs.

Employment lawsuits can be devastating. A cannabis PEO can help you stay compliant with labor laws, reducing the risk of legal action.

Reduce Costs and Increase Efficiency

If you are a small cannabis company, you probably can’t afford to have an entire HR department. However, by partnering with a cannabis PEO, you can have access to a team of HR specialists without the overhead costs of salaries, benefits, and office space.

A PEO can provide administrative support on various HR tasks, taking weight off your shoulders and freeing up time and resources for you to focus on growth and operations.

On top of this, you can benefit from PEO’s technology platforms to automate many daily tasks, saving time and bringing accuracy to processes like payroll and tax filing.

Scale Your Cannabis Business

As your cannabis business grows, your HR needs change and evolve.

A cannabis PEO offers scalable solutions that can adapt to changing workforce dynamics, whether it’s expanding to new locations, hiring seasonal workers, or adjusting staffing levels.

Attract Top Talent with PEO’s Competitive Benefits

Partner with a Trusted PEO to Grow Your Cannabis Business

The cannabis industry is evolving and growing fast, posing new challenges for businesses. From hiring talented employees to processing payroll and keeping up with compliance requirements, there are too many things for a small HR team to tackle.

By engaging in a partnership with a cannabis PEO, companies can streamline admin processes and save time by delegating the most complex and time-consuming aspects of their business.

At GreenLeaf HR, we provide comprehensive PEO solutions to help you manage payroll, employee benefits, Workers’ Compensation, workplace safety, and more. Have a specialized partner by your side and free up time to grow your cannabis business! Ask for a free HR consult to get started.


Related Articles

  • Cannabis businesses face many challenges, from keeping up with complex and fast-evolving regulations to improving employee retention rates.
  • With an integrated HR system, cannabis companies can simplify HR processes throughout the entire employment cycle.
  • At Greenleaf HR, we provide customized HR solutions for your HR business and give you access to powerful HR management software. Get a free HR consult!

As your cannabis business grows, so does the need for more efficient systems to better handle your HR workload, from bringing new talent on board to tracking work hours and keeping up with legal requirements. Let us introduce you to Vfficient, a powerful HR management software that integrates all these critical HR functions into a single platform.

Read on to find out how Vficcient can help you navigate the complexities of HR in the cannabis industry, its main features and capabilities, and how to get started.

Let’s jump right in!

Navigating HR Complexity within the Cannabis Industry

Running a business in the cannabis industry comes with many HR complexities. Cannabis companies are growing fast and expanding into new markets as more states legalize cannabis for medical and recreational use, requiring HR professionals to recruit and hire new talent for a wide range of positions in a very short time frame. According to Vangst 2023 job report,

“America’s legal cannabis industry supports 417,493 jobs with more than $26.1 billion in annual revenue across 19 adult-use and 21 medical-only states”.

But the challenge not only lies in finding qualified employees, but also in being able to retain them. The cannabis industry shows higher turnover rates compared to other sectors.

A recent Headset.io study reported 55% of turnover within a year in cannabis retail businesses, with nearly a quarter of budtenders leaving their jobs during the first month. This highlights the need to provide staff training opportunities and offer better employee benefits, among other employee engagement and retention strategies.

On top of this, cannabis businesses are subject to strict, ever-evolving regulations, adding more responsibilities to HR teams who need to stay on top of the latest compliance updates. Cannabis regulations have an impact on every aspect of your business, from hiring employees to ensuring payroll and taxes comply with all federal and state requirements.

With so many fronts to cover, it’s easy to feel overwhelmed. But what if you could track and manage every aspect of the employee lifecycle from a single place? That’s exactly what you can do with Vfficient!

Learn How Vfficient Simplifies HR Operations for Fast-Growing Cannabis Businesses

Inside Vfficient: A Closer Look at the HR Management Software

Partnering with Greenleaf HR gives your business access to Vfficient, an all-in-one HR management software that helps you track and handle every HR aspect of your business.

This cloud-based solution integrates everything you need to manage your cannabis business’s workforce, such as:

Instead of jumping back and forth among different tools, you can centralize them in one place, creating a more efficient experience for your HR team.

Besides, self-service options within the Vfficient portal allow employees to be in control of payments, benefits, and personal information details.

On-the-Go HR Management: Vfficient Mobile for Cannabis Employees

With employees working from different locations and even on-the-go, having mobile access to their HR information is vital.

Vfficient’s mobile app gives your cannabis business employees secure access to their most relevant HR data and allows them to:

  • Clock in and out
  • Check their PTO status and send PTO requests
  • Access to employee benefit options
  • See how much they were paid and when

Easy to use and navigate, this mobile app gives your employees more control over HR-related matters, and it’s available everywhere at any time.

Guidance Every Step: Greenleaf HR’s Support and Integration Services

Cannabis businesses have too many HR tasks on their plate. From dealing with complex, fast-changing regulations requirements to managing benefits and payroll in a transparent, efficient way. But the good news is: You don’t have to deal with everything alone.

At Greenleaf HR we provide customized HR solutions to simplify your everyday processes, increase productivity, and keep your business safe while you can focus on growing your bottom line. Based on your specific needs, we can help you manage employee benefits, payroll and taxes, applicant tracking, onboarding, and more.

Besides providing expert guidance and support, we offer you access to Vfficient, a strong HR management system that lets you track and handle every stage of the employment cycle.

Ready to get started? Contact us to find out how we can streamline your cannabis business!


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Highlights

  • Businesses in the cannabis industry deal with ever-changing regulations, complex reporting requirements, and payroll challenges.
  • Outsourcing HR functions like payroll and compliance can be a smart way to save costs and get access to specialized professionals, while reducing your team’s admin workload.
  • At Greenleaf HR we provide comprehensive HR solutions to make your cannabis business more efficient. Learn how we can help!

Running a business involves an array of HR tasks. And that’s even more true in the fast-growing cannabis industry. HR outsourcing is a savvy alternative for businesses that want to focus on scaling up while reducing admin workload.

By taking over critical functions like payroll, benefits administration, and compliance, external HR providers can boost your business’s efficiency and help you navigate this sector’s complex regulations.

This article walks you through the basics of HR outsourcing and how your cannabis company can benefit from choosing a strategic partner.

Let’s jump right in!

What Is HR Outsourcing?

Human Resources Outsourcing (HRO) refers to the practice of delegating certain HR functions and responsibilities to external service providers.

In most cases, companies choose to outsource HR tasks to specialized partners to save costs, increase efficiency, and reduce the time spent on burdensome administrative tasks, so their internal resources can focus on more strategic parts of the business.

Difference Between PEO and HRO

There are different approaches to HR outsourcing. Professional Employer Organizations (PEOs) and HRO are the most common alternatives, though they differ in their scope and the type of services they provide.

Let’s explore the key differences between PEO and HRO:

Co-Employment vs Service Provider

When you partner with a PEO, they become a co-employer for your company. This means the PEO assumes specific employment responsibilities and risks, while you stay in control of your business’s core areas.

According to NAPEO, businesses that work with a PEO grow 7 to 9% faster than similar-sized businesses that don’t.

In the case of HRO, on the other hand, your business remains the sole employer of your workforce.

HR Services

PEOs offer a comprehensive suite of HR services, which often includes:

  • Payroll processing
  • Benefits administration
  • Compliance management

Sometimes, a PEO’s packages may include additional HR services like employee training and development.

On the contrary, HRO arrangements allow for more flexibility. Instead of hiring a fixed package of services, you can choose the specific HR functions you want to outsource. In this case, you might find other HR services available, such as performance management, applicant tracking, or employee onboarding services.

Choosing between PEO and HRO will depend largely on your business’s needs, goals, and preferences.

HR Outsourcing Services for Cannabis Companies

Cannabis companies come with a unique set of challenges, from complex regulations to specific reporting requirements that vary from state to state.

On top of this, the fact that marijuana is still considered illegal at the federal level in certain states across the U.S. adds complexity to the payroll process, as many national banks can’t support companies within the sector.

When it comes to outsourcing HR services, it’s key to find an external provider that specializes in the cannabis industry and its ever-changing laws and regulations.

That way, you can minimize the risks of non-compliance, which can lead to severe penalties and costly fines.

Keep Your Cannabis Business Compliant by Partnering with Specialists

HR Outsourcing Benefits

Outsourcing HR offers many benefits for companies, from increasing efficiency to saving valuable time. Wondering how it could help your cannabis business? Let’s take a closer look!

1- Cost Savings

Outsourcing can save your company money that you would otherwise need to invest in hiring specialized HR professionals, with the associated costs of equipment, workspace, and training.

2- Reduce Risks

With ever-changing regulations and legal requirements, having a team of experts working by your side can minimize the risk of non-compliance for your cannabis business, which can lead to costly fines, penalties, and even the loss of your business license.

However, it’s crucial to choose a partner that specializes in HR for the cannabis sector and is knowledgeable about local, state, and federal laws.

3- Focus on Impactful Activities

Administrative tasks are time consuming and can take precious time from your internal HR team. By outsourcing non-core HR functions, they can have more time to focus on strategic, growth-driving activities.

4- Access to Advanced HR Technology

Another advantage of outsourcing HR is getting access to cutting-edge HR systems. Your business can benefit from advanced software to increase efficiency when processing payroll, tracking time and attendance, and managing benefits.

How to Choose an HR Outsourcing Provider

Finding the right HR outsourcing provider for your cannabis company can be quite a challenge. Here are a few things to keep in mind when evaluating different options:

Clearly Define your Objectives and Needs

Make a list of your business’s HR tasks and identify which are the specific areas that you’d like to outsource. Consider your company’s goals and the specific challenges of the cannabis sector.

Evaluate your Provider’s Expertise in the Cannabis Industry

The cannabis industry is dynamic and subject to frequent legal shifts. Partnering with a provider that’s familiar with regulatory aspects — including licensing, record-keeping, and reporting requirements — is a must.

Make sure that their compliance management system addresses the specific requirements of the sector and it’s being constantly updated.

Look for Customizable HR Solutions

Choose an HR outsourcing provider that allows you to customize their solutions to meet the specific needs of your cannabis business. This may involve tailoring your payroll administration process, workplace safety requirements, or employee training programs.

Meet Greenleaf HR: HR Solutions for Every Business Size

Cannabis businesses face complex challenges and barriers that can be quite tricky to navigate for a small HR team.

By delegating some of your HR functions to specialized partners, you can protect your business from non-compliance risks and save valuable time to spend on more strategic aspects of your business.

At Greenleaf HR, we provide payroll and HR solutions for cannabis companies of all sizes, across the U.S. for the past two decades, we’ve been helping businesses grow while keeping them safe and fully compliant.

Contact us to learn how we can make your cannabis business more efficient!


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