Michigan is the third largest cannabis employer in the country according to a new report from Leafly. As a leader of the national cannabis practice, Todd Tigges works very closely with various companies, providing cannabis accounting solutions, cannabis agreed upon procedure reports, IRC 280E analysis and other services to nearly 40% of the licensed market in Michigan.
He shared some insight on the hiring/retention trends in the cannabis industry with Crain's Detroit Business.
"As Michigan's market slowly matures, cannabis companies need to be more creative to retain hourly employees who may end up leaving for a better opportunity at another, more exciting cannabis business," said Todd Tigges, a partner at Farmington Hills-based accounting firm UHY LLP who works with cannabis companies. "As in other industries, retention is challenging and there's more consideration of health benefits, signing bonuses and other incentives that may reduce turnover."
"It's becoming no different than what we see in the rest of the employment world in Michigan," Tigges said.
"As companies expand, they're also hiring more back-office employees for financial accountability and to manage growing staff. There's also more complex leadership structures. Owners with all the decision-making power evolve into built-out C-suites with staff under them," Tigges said.
This article was originally published by Crain’s Detroit Business. Subscribers can read the full story here.
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