Proper human resources practices are vital for the success of your dispensary business. Not only is it a federal requirement that all of your employees’ paperwork is in order, but the industry has a lot of rules and regulations that your business needs to follow to stay compliant.
In this ever-evolving industry, the best HR practices allow your dispensary to pivot and adapt to new regulations and opportunities as they occur. They also allow you to stay on top of the rapid growth the industry is experiencing while scaling your dispensary’s operations to keep up.
Here are five tips that can help you improve your dispensary’s HR practices.
1. Perform Thorough Background Checks to Verify Employee Eligibility
It’s important to classify employees correctly. Each of your employees must fill out an I-9 Employment Verification form. This document confirms their identity and shows that they’re eligible to work in the United States. You need to hang onto these I-9 forms and present them if you get audited. Missing documents can result in fines.
2. Classify Each Employee Correctly
Cannabis dispensaries often have a wide range of employees. For example, you may have full-time, part-time, seasonal, and even contracted employees working for you at any time. Knowing how the government defines each classification is critical, as is classifying each of your employees correctly. That way, you can keep your dispensary out of potential trouble.
3. Ensure Employees Know Their Roles
Ensuring that your employees know their jobs (and know them well) is essential. Not only is it key to your success as a business, but it’s also necessary for ensuring you stay compliant with cannabis regulations. Develop a set of standard operating procedures (SOPs) for your business so that your employees know what they’re supposed to do, how to do it, and why.
4. Boost Employee Satisfaction and Retention
Employee turnover is expensive. It also takes a lot of time to hire, onboard, and train new employees. Finding ways to boost productivity while creating a positive work environment that employees enjoy is critical for retention. Here are a few ideas to consider:
- Write an employee handbook that details your dispensary’s policies
- Create a positive onboarding process
- Offer fair and competitive wages
- Invest in your employees by offering career development programs
- Clearly define your dispensary’s mission and values
5. Be Ready for Federal Banking and Payroll Options
While states are legalizing cannabis use, it’s still illegal at the federal level. As such, dispensaries and other businesses haven’t had access to such things as banking or dispensary loans.
If cannabis becomes legal on the federal level, this could all change, making it easier to get financing for marijuana dispensaries and take advantage of payroll options open to businesses in other industries.
Set Your Dispensary Up for Success with Proper HR Practices
Proper HR practices can help your dispensary remain competitive in this ever-changing industry. Compliance with HR regulations sets your business up for success.
While loans and financing options aren’t available from federal banks yet, your dispensary still has options. For more information, visit Bespoke Financial today.