There’s a lot powering the blooming beauty industry: technology and artificial intelligence, an increased presence of independent brands, clean beauty trends, and more.
As part of our 2019 Talent Market Report, we’re pleased to introduce you to our specialized beauty edition that explores the most popular incentives currently being offered; insights into what’s ahead for 2020; retirement benefits and leave averages; relocation package offerings; alternative incentives when unable to match desired salary; annual raises and variable pay incentives; and fair market compensation data.
ForceBrands surveyed more than 500 full-time professionals across the consumer products industry to examine the CPG talent market in more detail. This report looks at the data from the beauty respondents who make up 22 percent of the total participants surveyed. Our respondents — hiring decision-makers including leaders at the Director, President/VP/SVP, C-suite level — were recruited to gather compensation and hiring data.
Some highlights from the data include:
- Average industry raises across beauty hover around 12 percent — 2 percent higher than CPG’s cross-industry average, and well above the national average of 3 percent.
- Recognizing the demands of younger working generations, larger beauty companies plan to implement benefits in 2020 that cater to work-life balance needs: unlimited time off, off-site social opportunities and meetups, and flex- time or work-from-where-you-want.
- Smaller companies (that generate less than $50M in annual revenue) swap more traditional benefits like 401(k) plans with more modern workplace perks like flexible working hours, free meals, and cell phone subsidies.