Optimizing Compensation Strategies for Growth with Benchmarking Tools

Prior to using Würk’s compensation benchmarking tool, this NJ Operator faced significant challenges with a lack of cannabis-specific wage data, inaccuracy in what little data was accessible, and comparing fair wages across cost-of-living and regional markets.

By leveraging Würk’s live, cannabis-specific compensation benchmarking tool, they gained accurate, state and region-specific data that helped them better manage compensation strategies and ensure competitiveness. Their findings confirmed fair employee compensation based on role, enabling them to optimize pay structures for sustainable, cost-effective growth as they expand into the adult-use market!

Business Challenges

Before discovering Würk’s cannabis-specific compensation benchmarking tool, the client struggled with industry-agnostic solutions that simply didn’t fit. Frustration grew over irrelevant role comparisons like trying to equate bud trimmers to Christmas tree trimmers, and outdated market data that failed to capture the nuances of the cannabis industry. With inflation on the rise and labor costs increasing, there was a need for a more precise, data-driven approach.

Compensation is at the core of their HR and payroll strategy, especially in a competitive, high cost-of-living state like New Jersey. They needed to strike a delicate balance of offering attractive pay to retain top talent, while managing financial pressures unique to the cannabis space. The biggest challenges?

Clear, data-backed insights were essential to determine what truly qualified as fair and competitive pay. However, without reliable data, decisions relied on educated guesses at best, leaving little confidence or clarity to move forward. Initially, PayScale, industry reports, and salary estimates from Google and Glassdoor served as resources, but the information was often inaccurate and inconsistent.

That’s when they turned to Würk.

Solution

A generic compensation benchmarking tool simply wasn’t the answer. Most alternative solutions relied on outdated survey data, offering little value. But Würk changed the game by providing live, cannabis-specific compensation intelligence they could trust.

For the first time, there was real visibility into how their pay compared to the market. The tool confirmed that most roles were already compensated at or above market rates, reinforcing their strategy and uncovering key areas for improvement. Early on, tight budgets forced them to play catch-up, issuing steep raises of 10–20%, to bring salaries back in line with the market. However, using Würk’s data-driven insights, the client finally gained visibility into where their compensation stood. No more guesswork, just strategic, sustainable decisions. With clear data insights, they confidently adjusted average raises to 4-6% year-over-year. While still exceeding national averages for raises, the new average helped ensure long-term company health without sacrificing competitive employee compensation.

“We always want to be above market for employee compensation. Würk’s Compensation Benchmarking tool allows us to gain real-time insight into where we stand in markets both locally and nationally to stay competitive and keep the best people. Last review cycle, we were able give raises of 4-6%, a move that allows us to stay competitive while focusing on company health.” – HR Representative

Impact & Results

With Würk’s Compensation Benchmarking Tool, compensation was transformed from a guessing game into a strategic advantage. No more sifting through outdated, irrelevant data. As a result, they now have real-time, cannabis-specific insights to empower smarter decisions. By centralizing workforce data and integrating predictive analytics, their staffing is now optimized, costs are controlled, and compensation planning is streamlined.

With confidence in their pay strategy, they no longer react to market shifts, but rather anticipate them, ensuring sustainable growth and a workforce that feels valued and fairly compensated. As the company scales, Würk’s tool remains a critical asset in driving efficiency and future-proofing their operations.

To learn more, visit:
https://enjoywurk.com/our-services-and-solutions/insights-and-innovation/compensation-benchmarking/