Episode Details

Building a business is tough. Building a business in the yet-to-be-defined cannabis economy is even tougher. One of the biggest conundrums in the cannabis industry is talent acquisition and culture clash between legacy cannabis purveyors and formalized business structure. 

In this episode, Fran Racioppi lights up the challenges and opportunities in this fast-moving industry. He's joined by Bryan and Jessica Passman, Founders of Hunter + Esquire, a leading cannabis executive search and consulting firm, to discuss how cannabis companies recruit, assess, select, and retain top talent. They also highlight the barriers preventing elite talent from entering cannabis, the preconceived notions around the industry, the cultural challenges faced by operators, and the paths to becoming a successful founder in the industry.

Read the full episode transcription here and learn more on The Jedburgh Podcast Website.

Highlights: 

-The opportunities and risks the cannabis industry offers to potential employees.

-The legalization of cannabis in different states and at the federal level.

-How legalization is affecting the growth of the market and companies in the supply chain.

-Combatting stigmas and perceptions of the cannabis industry; equating cannabis to prohibition.

-The barriers preventing top talent from entering cannabis.

-Structuring a talent management cycle in an industry that has both former drug dealers and wall street executives.

-Overcoming the lack of industry experience in cannabis and how the legacy players are accepting new talent in the market.

-The culture clash between legacy and new cannabis purveyors.

-The business cycle of cannabis and where the major companies lie (existence, survival, early success, rapid growth, maturity, decline/re-launch).

-The role of founders in start-ups and how entrepreneurs accept when it is time to step aside as the leader but still contribute to the vision of the company they created. 

-Positive effects of COVID on cannabis and the designation as an “essential service.”

Quotes: 

-”Your human capital is your most valuable asset, if not your only appreciating asset.”

-”She is a CEO. Not a She-CEO.”

-”We focus our recruitment process on education.”