AdaptiveHR - Cannabusiness News and Information

Your Team at AdaptiveHR

Happy 420 Day to Cannabusiness.

From your friends at AdaptiveHR, we’d like to wish you a happy 420 day. It’s been a long year, and for those running a cannabis business, 420 can be an especially hectic holiday. Between order fulfillment, employee management, and customer service, it can be challenging to keep up with all the details.

Luckily, AdaptiveHR has the tools and resources you need to keep everything organized. Our comprehensive HR solutions provide you with dedicated support for compliance, attendance tracking, retirement, benefits, and more so you can focus entirely on growing your business. Read on to learn more about all the ways AdaptiveHR can help your cannabusiness thrive.

Cannabusiness Payroll and Tax Administration

Navigating payroll and taxes in the cannabis industry can sometimes be challenging, especially during busy holidays like 420. With our cloud-based platform re360, you can take all the guesswork out of managing your company’s financials.
We’ll take care of processing payroll every cycle and deliver insightful reports available for easy online access no matter where you are. Meanwhile, workers can access their payroll information directly through a user-friendly employee self-service portal. Our team will also ensure your time and attendance tracking systems are integrated, improving the accuracy and efficiency of payroll processing. Additional services include:

● Direct deposit processing
● Automatic garnishment, benefit, and deduction processing
● Filing of local, state, and federal taxes
● Pay card distribution
● Paid time off accrual
● Wire transfer processing

Cannabusiness Benefits Administration

Like any business endeavor, the success of a cannabis company depends largely upon the hard work and dedication of its employees. Providing your workers with a generous benefits package is one of the best ways to attract new team members while retaining the talent you already have.

AdaptiveHR will help you find the right health and 401k insurance to suit your needs, working directly with providers to negotiate the best rates possible. We’ll streamline the enrollment of your employees into various benefit packages including:

● Dental coverage
● Vision
● Life insurance
● Retirement savings plans

We even offer wellness plans and insurance for the pets of your valued workers. To provide financial support for your team members, we can set up helpful benefits like employee assistance programs (EAP), flexible spending accounts (FSA), or health savings accounts (HSA).

Time-Tracking and Attendance

Running a cannabusiness involves a lot of moving parts and keeping up with the details isn’t always so simple. If you have several locations, accurately tracking each employee’s hours and attendance can be especially daunting.

Our advanced time-keeping technology makes it easy to monitor and manage your labor costs from a single integrated system. If there’s ever a discrepancy, our advanced clock technology makes it simple for managers to adjust punch card details and streamline payroll approval processes. We’ll take care of scheduling every week as well, accounting for any sudden changes in employee availability, paid time off, or holidays.

To make timekeeping more consistent and secure, we mitigate inaccuracies like duplicate punches. We can also provide break and lunch tracking keys so you never pay more for labor costs than necessary.

Performance Management

Employees like to know they work for a company that will reward them for their hard work. With our single sign-on (SSO) performance tracking solutions, you can quickly import or export employee performance data to and from your HR Management System.

After detecting deficiencies in employee performance, we’ll automatically send you a Corrective Action Notice with all the relevant details. AdaptiveHR will also provide you with professionally crafted performance assessments and surveys to make performance reviews easier to orchestrate.

Technology

With our cutting-edge cloud-based platform, re360, you gain unprecedented oversight over all your company’s critical information like benefits, payroll, and HR. Best of all, our technology ensures reliable integration across multiple platforms like tablets, PCs, or mobile devices so you never miss any details, even if you’re off-site.

To improve accessibility, our technology supports multiple languages while two-tier authentication ensures your system is always 100% secure. Paperless solutions include an employee self-service portal for making changes to personal details like direct deposit, contact information, and paystubs. AdaptiveHR’s re360 platform also delivers a client self-service portal for tracking all your invoices, creating custom reports, or editing employee pay rates.

Retirement Services

Made specifically for small to medium-sized businesses like emerging cannabis companies, AdaptiveHR provides a competitive Multiple Employer Plan (MEP) to help your employees save for retirement. Our MEP plan powered by Resourcing Edge can lead to annual audit savings of up to $10,000 with administration fees that are among the lowest available today.

In addition, we can create a Safe Harbor Plan that allows you to save tens of thousands in pre-tax 401(k) distributions, all completely litigation-exempt, so you can feel confident and secure about your financial future. We’ll help you find the perfect 401(k) plans for your cannabusiness with customized eligibility options and vesting schedules that suit your unique needs.

EPLI Coverage

Legal issues can cause serious obstacles for cannabis companies, but AdaptiveHR will ensure you’re always fully protected with comprehensive Employment Practices Liability Insurance (EPLI). Our EPLI plan covers a wide range of circumstances, including legal defense expenses, financial damages like back pay, defamation, wrongful termination, and more.

We’ll also cover the costs of legal defense for privacy suits, sexual harassment, or workplace discrimination claims. When it’s possible to resolve disputes through mediation, AdaptiveHR will cover those expenses as well. With our master policy, you’re eligible for up to $3 million in coverage to pay for legal defense and settlement payouts, ensuring you won’t need to pay out of pocket when unforeseen legal trouble arises.

Solutions for Your Cannabusiness

If you’re struggling with juggling payroll, benefits, and human resources in-house, let AdaptiveHR come to the rescue. Our full-service suite of HR solutions will take care of managing all the finer details of running your cannabusiness so you can spend more time scaling up your business and meeting your growth objectives. Contact us today to schedule a consultation with one of our friendly HR professionals.