(This is an abridged version of a story that appears in the July issue of Marijuana Business Magazine.)
Labor is one of the biggest expenses in any cannabis business.
Hemp companies are hunting for ways to tighten their belts during the economic downturn, and executives are looking at personnel as one area where savings can be found.
Businesses wanting to save money on labor costs might consider:
- Running as lean of a team as possible by relying on versatile, productive workers.
- Retaining the good talent they’ve worked hard to find and develop.
- Keeping a lid on overtime and other excess payroll expenses.
- Keeping employees healthy to avoid lost production.
“These little bits of labor add up over time,” said Keegan Peterson, founder and CEO of Denver-based Würk, a company that provides payroll software and a human resource information platform.
To learn more about how to keep a lid on labor costs, click here.
Bart Schaneman can be reached at [email protected]