Podcasting, on-demand courses, e-books, audiobooks, Insta and Facebook groups are helping to make ‘Self’ (improvement, development and being your best ‘self’) a fast-growth industry. Here we look at the growth of this industry – and ask you to share your ‘self’ stories.
Podcasters such as Rich Roll, Tim Ferris, Dr Rangan Chaterjee and influencers such as money manifester Sarah Ackwisombe have helped make the ‘woo-woo’ mainstream. From changing your neural pathways for a best self mindset to manifesting a Burberry handbag and a house on the beach, we’re lapping it up and business is taking note.
It’s a growth industry
- According to a report from Research and Markets the U.S. self-help industry was worth about $9.9 billion dollars in 2016.
- A report by Grand View Research, Inc, predicts the global personal development market size reaching USD 56.66 billion by 2027, expanding at a Compound Annual Growth Rate (CAGR) of 5.1 per cent from 2020 to 2027.
- One of the drivers behind this growth is the demands of modern business.
“Growing needs amongst employees to meet the company’s expectations and develop their domain knowledge, as well as communication skills, is expected to fuel the growth of the industry over the forecast period.“
The report states that “workshops and seminars are likely to observe steady growth from 2020 to 2027 as they allow the individuals to connect, interact, and build professional relations with fellow participants”.
The ‘woo-woo’ works
Self-awareness is, says the report, “crucial to a business professional to boost productivity, employee communication, trust, and engagement to improve the organization’s overall performance“.
Our virtual lifestyle has been accelerated by the pandemic, so we’ve witnessed a rise in anxiety and mental health issues. Pre-pandemic there was already an increasing awareness about mental health and psychological wellbeing is anticipated to drive the demand for mental wellness programmes, says the report.
What is your company doing to develop your people?
In the zone we will help your staff by educating them with our articles on self-development and awareness. If you’re a business leader tell us what you’re doing now to help develop your staff as individuals emotionally, physically and communication-wise. We want to share stories from proactive leaders and companies with the wider community. Email us now.