MJBizMag May-June 2022 - 40

SALARY AND HIRING ISSUE
Get the full Cannabis Compensation Survey
at content.futuresense.com/2022ccs
Achieving Equity
T
he battle for social equity in
cannabis, as in every other
industry, includes achieving pay
equity. Generally speaking, pay equity
means employees get paid the same
amount for substantially similar work.
When considering pay equity-or,
perhaps more appropriately, pay
disparities when comparing white males
to women and minorities-many labor
market and compensation analysts also
factor in differences in positions and
job titles since white males are hired for
better-paying executive and managerial
positions more often than women and
minorities.
No Pay, No Stay
Resolving unfair pay disparities is
good business policy any time, but
it's especially timely now, during the
" Great Resignation, " when companies
40 May-June 2022 | MJBizMagazine
By Omar Sacirbey
Compensation transparency and pay audits can help companies
strike balance on their payroll
provided the salary data for
this report. " Equal opportunity
and rewards support employee
performance. "
Jim Finkelstein
are having a harder time retaining
employees and replacing those
that leave.
" A company that believes in
fairness and equity will attract
people ... because they stand for that
purpose, " said Jim Finkelstein, CEO
of California-based compensation
advisory firm FutureSense, which
At the same time, at least 14
states-and the number is growing-have
pay-transparency laws that require
employers to list salary ranges for posted
job vacancies. These laws exist in some of
the nation's biggest marijuana markets,
including California, Colorado, Illinois,
Massachusetts, Michigan and Oregon.
Sorry Statistics
Despite the legal and ethical reasons to
do away with pay inequity, it persists.
" In our experience, it's quite
common, however not many are willing
to admit it. ... The glass ceiling still
exists, and there are still significant
pay gaps when it comes to race and
ethnicity. For example, women are still
http://content.futuresense.com/2022ccs

MJBizMag May-June 2022

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