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Top 5 Reasons to Outsource Your Cannabis Payroll & HR Services

by | Feb 18, 2021 | Cannabis Industry Payroll & Human Resources

Payroll and human resource services are an essential component of all businesses, however, the challenges they present in the cannabis space are somewhat unique.

Similar to any business, your success is largely dependent upon the quality of the people you are capable of hiring to work for you.

To create or maintain a successful cannabis industry endeavor you need employees who not only are interested in working at a cannabis company, but who also avoid excessive cannabis consumption during office hours, show up on time, do what they say they are going to do, and who keep their sticky fingers out of your product.

That might have sounded like an easy undertaking before getting into this industry but chances are, if you have been doing this for any length of time, you have proven otherwise.

HR and payroll services can help you solve these problems and more.

Below are the top 5 reasons to outsource your cannabis industry payroll and HR services to a company that specializes in this space.

 

Save time and money.

Let’s start with the obvious one. Payroll administration and human resources activities are by nature, either very time consuming, or, if you hire an HR manager they are very expensive.

One of the great benefits of outsourcing these responsibilities is that it frees up the money and/or time you would otherwise have invested so you can focus on building your business.

 

Increase employee satisfaction and retention.

One of the most noteworthy cannabis payroll services is VensureHR’s PEO (Professional Employee Organization) program which puts your employees on their payroll. Your employees then, in turn, receive official payroll checks from reputable, non-cannabis companies that they can deposit at any bank.

Although it is rare, I have heard about situations in which employees of dispensaries have had their bank accounts shut down by the banks. These kinds of problems require unnecessary time and energy that kill work productivity and can be avoided entirely. It’s also helpful when it comes time for your employees to file taxes, get a mortgage, car loan, apartment, or do anything that requires documented income.

 

Hire great employees.

You know you need great people but, why would they go to work for you?
Highly skilled, productive, and honest people generally have options and if your competitors are offering paychecks and some kind of benefits package, the best employees are going to go to work for them.

Outsourcing your HR and payroll services ensures that you have access to the best help you can find. Remember, the humans you have on staff are the greatest asset to your organization.

 

Maintain compliance with tax regulations.

In case you didn’t already know, failure to keep your taxes in compliance is one of the most sure-fire ways to put an end to your cannabis venture. Doing it properly with every paycheck, when working with cash, is not only extremely time-consuming but it’s also a royal pain in the ass.

Leave the payroll taxes to the professionals. Save your energy for important activities you could be doing to grow your business.

 

Peace of mind.

While saving money and time and hiring/keeping great employees is all great, peace of mind has to be the greatest reason of all.

After all, what good does running a successful cannabis business do you if you’re constantly stressing about things you don’t have to stress about? You likely got into this business to improve the quality of your life, not to be consumed by the red tape and regulations.

While there are a variety of options in the cannabis space, VensureHR is one that works with cannabis companies across the US and that has been in business since 2004. They have served over 300,000 employees with their payroll services and they offer a dedicated rep – so you are not constantly having to chase down your new point of contact every time you turn around.

In addition to the co-employment payroll services they also offer employee benefits packages and a variety of other services that could potentially further differentiate your business to the best workers in your market.

Getting a free, no-obligation quote is fast & easy, and just might improve your life in more ways than you can presently imagine.

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