Diversity and Inclusion
is Good for Business
BY ELYSE ROSENBLUM
THE SPA INDUSTRY IS BOOMING. Revenue totaled
$18.3 billion in 2018, a 4.7 percent increase from 2017.
There were 190 million spa visits and there are now more
spa establishments than ever before, in 22,160 locations
across the country.
Despite this growth, the talent gap is having an impact,
with the number of job vacancies in the spa industry
remaining high despite a marginal decrease in the latest
ISPA U.S. Spa Industry Study. This is a pressing concern for
spa professionals, with 40 percent of respondents in the
2018 ISPA U.S. Spa Industry Study citing a lack of qualified
talent as the industry’s biggest issue.
40
PULSE
■
APRIL 2020
One way to address this is to increase workforce
diversity and build a larger, more inclusive talent pipeline.
This brings other benefits, as diverse teams often
outperform their peers in terms of innovation and
revenue growth. One study found that companies with
diverse management teams were 35 percent more likely
to achieve better financial performance than their
industry peers.
While these figures are compelling, creating a more
inclusive talent pipeline takes more than just good
intentions. Focusing on what we call Opportunity
Employment can transform hiring and have a significant