Company understands unique skills required for leaders in the burgeoning, highly regulated industry
The region’s budding cannabis industry faces unprecedented leadership challenges as it grows in the widening acceptance and increasing appetite for medical and recreational cannabis. Standish Executive Search has been working in this new industry and has developed a model to attract talent that has the right mix of leadership experience, regulatory knowledge and capabilities to work in high growth sectors.
Standish Executive Search is a New England-based firm that works with business owners and executives who are positioning their companies for accelerated growth, change or succession. The firm fills a unique niche, attracting talent for small and medium-sized businesses that may not have sufficient resources or experience to identify and attract essential new leadership talent.
Evolving state by state, cannabis is already a multi-billion industry that is still in a rapid growth phase. Medical marijuana is now legal in 33 states, including all of New England. Marijuana for recreational use is now legal in nine states, including three in New England. According to the 2019 Marijuana Business Factbook, the number of full-time workers in the U.S. marijuana industry was between 130,000 and 160,000 in 2018. It is projected to increase to 175,000 to 215,000 by the end of 2019.
“While there is no seasoned stable of industry talent to lead these companies, many of its operational and strategic demands are consistent with other burgeoning sectors. Like those in innovative pharmaceutical and aerospace companies, for example, the right candidates for company leadership will have demonstrated the acumen to be effective in highly regulated yet fast moving environments,” said Stanley Davis, principal at Standish Executive Search. “To be successful, these leaders will be disciplined, patiently aggressive, agile and creative, yet ethical and compliant. Regardless of their industry experience, they will have the resolve and strength of character to handle regulation, extreme cultural and legal scrutiny, as well as the operational and strategic demands.”
Targeting leadership for the cannabis industry is complex – surfacing the right talent, with the unique skills, to thrive in this sector. “Standish is committed to its work with cannabis sector companies, securing the right entrepreneurial leaders who will be all-in – capable and committed for the long term, Davis added.
Standish Principals guarantee outcomes. They provide their expertise and resources to clients — before, during and after each search. With a presence in Providence, Rhode Island, Manchester, New Hampshire and Worcester, MA, Standish Executive Search serves the entire New England region.