March 30, 2021 – Marijuana has become more popular than ever in the last few years. The legalization of the plant in many countries has led to a boom in the cannabis industry. Consumer spending on cannabis has topped $10 billion in the U.S. alone, and worldwide sales are expected to top $100 billion before the end of the decade. The United Nations estimates that 150 million people worldwide use marijuana, which is over 3.8 percent of the global population. While talent deficits are a problem in every industry, the marijuana field is exceptionally short on senior-level leaders who can come in and cross-pollinate their functional and industry skills-sets. So it is that recruitment firms are focusing on bringing talent to this hot sector. Recently, CannabizTeam, a cannabis-focused executive search firm, opened a new office in Newark, NJ.
Cannabis is officially America’s fastest-growing industry as the 2021 Leafly Jobs Report found that the U.S. cannabis industry now supports 321,000 full-time equivalent jobs, a 32 percent increase over the previous year. As cannabis legalization continues to spread and demand for qualified talent continues to increase, CannabizTeam plans to continue its expansion initiative to meet these needs.
“CannabizTeam is growing to accommodate the explosive growth of the cannabis industry and leverage talent in top cannabis markets across the country,” said Liesl Bernard, founder and CEO. “We expect to see tens of thousands of cannabis jobs created by New Jersey and its neighbors in the tristate area and predict this developing market will further the case to legalize adult-use cannabis across the East Coast. We look forward to helping new and expanding cannabis companies alike connect with qualified talent that will up their competitive advantage and position them for success as the industry continues to evolve.”
With the addition of the Newark offices, CannabizTeam now holds 10 offices in eight states across the U.S. Since its inception in 2016, CannabizTeam has placed top candidates from entry level to specialized C-suite leadership at leading private and public cannabis companies in North America and Europe. Multi-state clients include TerrAscend, Justice Grown, Ascend Wellness Holdings, Jushi, LEEF Holdings, NewTropic and Benzinga.
“We engaged CannabizTeam to help TerrAscend fill a CFO position and three other executive-level roles in the U.S. and Canada over the last 12 months,” said Jason Ackerman, CEO of the North American cannabis operator with vertically integrated operations in Pennsylvania, New Jersey and California, and operating as a licensed producer in Canada. “We have been highly satisfied with CannabizTeam’s search capabilities and customer service. They evaluated a large number of candidates from inside and related industries, and the quality and depth of the candidates presented was exceptional. We are very pleased with the candidates we chose to hire as they were not only technically qualified, but they are also a great fit for our company’s culture.”
New Denver Location
Earlier this year, CannabizTeam opened an office in Denver. The firm also opened offices in Boston, Detroit, Dallas, Orlando, and Santa Rosa in 2020, joining previously established branches in Chicago, Miami, and its headquarters in San Diego.
The Marijuana Business Factbook said that the number of people working in the U.S. cannabis industry was 300,000 last year, almost a 50 percent increase from 2019. “The cannabis industry has proven to be an economic bright spot this year, showing a strength and resiliency that other industries haven’t been able to replicate,” said Ms. Bernard. “Our decision to continue expanding the CannabizTeam footprint is a direct reflection of the explosive growth of this industry driving job creation, and the increasing need for cannabis companies to hire highly skilled professionals to keep their competitive edge.”
New Board Placement Service
CannabizTeam recently launched a new service line for cannabis companies: CT Board Placement. The new service assists cannabis industry clients in identifying and recruiting candidates for board of director positions who have a diverse blend of skills and experience. CT Board Placement will also offer a cannabis director development program to help first-time directors learn the culture and nuances of the company they will serve as well as the broader cannabis industry. The cannabis director development program includes a detailed curriculum exploring the most relevant governance issues in North America, with a special focus on issues facing boards in the U.S., Canadian and Mexican cannabis markets.
“Appointing the right non-executive directors is a critically important decision for all cannabis companies in today’s competitive marketplace,” said Ms. Bernard. “Recruiting directors in the cannabis space is a more complex process due to the relative youth of the industry and the lingering legacy legal nuances. Our goal with CT Board Placement is to help our clients find a diverse blend of candidates with relevant experience, strong character and reputation, proven judgment and leadership skills that will set them up for future success.”
Contributed by Scott A. Scanlon, Editor-in-Chief; Dale M. Zupsansky, Managing Editor; and Stephen Sawicki, Managing Editor – Hunt Scanlon Media