This example was written by Tom Bombadil answering a question on TeX.SE, with a modification by Stefan Kottwitz adding a text font style showing an implicit way.

Edit and compile if you like:
% Circular arrows with text% Author: Tom Bombadil\documentclass[tikz,border=10pt]{standalone}\usetikzlibrary{decorations.text}\newcommand*{\mytextstyle}{\sffamily\Large\bfseries\color{black!85}}\newcommand{\arcarrow}[8]{%% inner radius, middle radius, outer radius, start angle,% end angle, tip protusion angle, options, text\pgfmathsetmacro{\rin}{#1}\pgfmathsetmacro{\rmid}{#2}\pgfmathsetmacro{\rout}{#3}\pgfmathsetmacro{\astart}{#4}\pgfmathsetmacro{\aend}{#5}\pgfmathsetmacro{\atip}{#6}\fill[#7] (\astart:\rin) arc (\astart:\aend:\rin)-- (\aend+\atip:\rmid) -- (\aend:\rout) arc (\aend:\astart:\rout)-- (\astart+\atip:\rmid) -- cycle;\path[font = \sffamily, decoration = {text along path, text = {|\mytextstyle|#8},text align = {align = center}, raise = -0.5ex}, decorate](\astart+\atip:\rmid) arc (\astart+\atip:\aend+\atip:\rmid);}\begin{document}\begin{tikzpicture}\fill[even odd rule,red!30] circle (3.8) circle (3.2);\foreach \x in {0,60,...,300} {\arcarrow{3}{3.5}{4}{\x+20}{\x+70}{5}{red,draw = red!50!black, very thick}{text \x}}\end{tikzpicture}\end{document}
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