Marijuana companies operate in rapidly changing and highly competitive environments, which means that labor disputes can considerably impact their business operations, leading to reputational damage, losses in revenue and even sanctions.
Labor peace agreements are agreements between bona fide labor organizations and a commercial marijuana licensee or license applicant. These agreements start a labor peace period where the employer agrees to not take part in actions that may undermine the ability of the union to organize the workforce while unions agree to not picket, strike or disrupt business operations in any other way.
The agreements also help promote long-term sustainability, social responsibility, productivity, stability and public safety in the marijuana industry by establishing a relationship between workers and employers. Additionally, collective bargaining facilitated by these agreements offer workers a voice in their workplaces, enabling them to negotiate for better working conditions, wages and benefits.
Collaborative relationships with workers also allow employers to recognize the value front-line workers bring to the table. This is in addition to obtaining valuable insights into the concerns and needs of their workforce and developing practices and policies promoting job satisfaction as well as productivity. This can, in turn, help improve morale, decrease turnover and improve overall productivity.
The establishment of labor peace agreements also allows employers to show their commitment to social responsibility and fair labor practices, helping promote economic and social equity in the industry while decreasing the risk of abuse and exploitation.
The marijuana industry’s workers need to be skilled and knowledgeable in various areas, including compliance, security and safety. These agreements help promote public safety by setting up standards for training and certification for workers. Some states in the country have already approved laws mandating safety training. More collaborations between employers, labor unions and workers will facilitate the development of training programs and standards for certification that ensure workers possess the skills and knowledge needed to perform their jobs effectively as well as safely.
Furthermore, as the marijuana industry grows and becomes more regulated, these agreements will provide a foundation for the burgeoning sector to develop in a way consistent with the values of economic and social equity, public safety and environmental responsibility.
All the above points support the use of labor peace agreements in this industry, at least as a first step in helping make sure that the cannabis sector is a source of well-paying and stable jobs for workers as well as a positive force in the communities it serves.
As stability is maintained in the way cannabis companies relate with their workers, operations could grow steadily as these companies focus on innovation to serve the evolving needs of customers. The new products can then attract more customers, which can create further downstream opportunities in the value chains of related companies such as Advanced Container Technologies Inc. (OTC: ACTX), which supplies equipment to grow marijuana indoors.
NOTE TO INVESTORS: The latest news and updates relating to Advanced Container Technologies Inc. (OTC: ACTX) are available in the company’s newsroom at https://cnw.fm/ACTX
CNW420 spotlights the latest developments in the rapidly evolving cannabis industry through the release of two informative articles each business day. Our concise, informative content serves as a gateway for investors interested in the legalized cannabis sector and provides updates on how regulatory developments may impact financial markets. Articles are released each business day at 4:20 a.m. and 4:20 p.m. Eastern – our tribute to the time synonymous with cannabis culture. If marijuana and the burgeoning industry surrounding it are on your radar, CNW420 is for you! Check back daily to stay up-to-date on the latest milestones in the fast -changing world of cannabis.
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