Fashion, beauty, fitness and wellness the demand for products and services in these areas is increasing by the day. The market is expanding in different ways: neighborhood stores and ecommerce stores are selling the latest products and influencers are used to tap niche categories.
According to a 2023 skill gap study conducted by KPMG, the Indian beauty & wellness sector grew at a compound annual growth rate (CAGR) of 18.2% between 2018 and 2022, more than the global CAGR of 17.6% during the period. The sector is now expected to reach Rs 5 lakh crore by 2030, with women constituting 70% of the workforce. And as it does, the career choices are also expanding.
Data posted on job sites such as Naukri shows that there was some flattening in fitness and wellness numbers over the previous months. The growth for beauty and personal care dipped in April but a positive hiring sentiment was seen again in May. As the sector expanded exponentially there is a need to re-look at the right hiring methods. Ankit Aggarwal, Founder & CEO, Unstop, quoted “Beauty and wellness brands are embracing innovative hiring methods to find talent. Instead of relying solely on academic background, beauty and personal care companies are turning to competitions and challenges to assess a candidate’s true potential.”
For example, L’Oréal partnered with Unstop to host Brand storm and The Sustainability Challenge. These competitions showcase students’ ability to solve real-world problems and develop innovative ideas that shape the future of the beauty industry. Similarly, Johnson & Johnson uses challenges to connect with talent. It presents students with real-life business scenarios, and offers mentorship from in-house experts. This allows students to showcase their problem-solving skills and gain valuable.
Ankit adds that the shift towards skill-based hiring ensures brands find well-rounded candidates. These students possess a deep understanding of the beauty and wellness landscape, coupled with the innovative thinking required to shape a brighter future for the industry. The government skilling programs also play a critical role in enabling this shift.
Under the Pradhan Mantri Kaushal Vikas Yojana (PMKVY), 4.89 lakh individuals have been trained with 1.34 lakh certified under Recognition of Prior Learning and 2.54 lakh certified under Short Term Training and Special Projects. The placement rate was 49%.
