(This is an abridged version of a story that appears in the February issue of Marijuana Business Magazine.)
It can be difficult for marijuana businesses to retain their best budtenders, but the payoff for investing in retention is well worth the effort.
According to Seattle-based business intelligence platform Headset, data collected in Colorado and Washington state showed the average retailer in those states reported 30% budtender turnover during a 12-month period.
To retain budtenders, a cannabis retailer can offer competitive pay, health care, ongoing education and performance incentives.
Marijuana Business Magazine asked three executives from cannabis companies to share their businesses’ strategies for retaining budtenders.
We also quizzed their budtenders on why those retention strategies matter.
Here’s what we discovered from:
When you do lose budtenders, you’ll need to hire replacements and then onboard and train them. Click here to read some best practices.