MJBizMag November-December 2020 - 132

QuestionoftheMonth | End-of-year bonuses
By Omar Sacirbey
E
ach month, we survey a group of marijuana industry executives and ask them
an important industry question. We welcome your suggestions for topics.
Email us at magazine@mjbizdaily.com. Since we're approaching the end of the
year-and what a year it's been-we asked cannabis-focused recruiting executives
whether companies will cut, maintain or increase end-of-year bonuses.
Liesl Bernard
CEO and Founder, CannabizTeam, San Diego
With the cannabis industry still in its relative infancy, we don't see many cannabis businesses
pay what would be considered traditional " year-end " bonuses in other, more mature industries.
What we are starting to see with increasing frequency for senior staff and management are
targeted bonuses agreed upon during hiring that link to preestablished KPIs.
For example, we had a recent placement for a VP of operations for a multistate operator
focused in the manufacturing sector, where the candidate's base compensation was in the
$200,000 range. The bonus component was 30% of the base salary if the manufacturing
division produced a defined amount of oil in a specified period of time and the company
achieved target revenue results.
Karson Humiston
CEO and founder, Vangst, Denver
While cannabis sales have continued to hold strong throughout the pandemic, access to capital
is still very challenging. Many of our clients are being very cautious with their capital right now
and therefore decreasing or eliminating end-of-year bonuses in an attempt to preserve cash.
That said, many of our clients are offering additional stock options instead of year-end bonuses.
Kara Bradford
CEO and founder, Viridian Staffing, Seattle
We have clients who have fared quite well in the current environment and ones who have
struggled. So it really comes down to how well the company has performed in the past year,
how much money they have in the bank and their performance forecast for the coming year.
Firms that are doing well, are well-capitalized and/or expect to continue doing well are wisely
incentivizing their best talent to stay by paying bonuses. Those who are faring poorly, have
a less optimistic view of the coming year or are simply undercapitalized are more reluctant
to pay bonuses this year, putting them at greater risk of losing talent to companies that can
promise better incentives.
132 Marijuana Business Magazine | November-December 2020
How will
the events of
2020 change
end-of-year
bonuses?

MJBizMag November-December 2020

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