Gender diversity in property sector boosts profits

Gender diversity in real estate – what’s not to like

 

Inclusivity and diversity are the new buzz words across a range of professions at the moment but perhaps most exciting is their application to the property sector – a sector that has dragged its feet in terms of realistically embracing the idea of social inclusion in general and gender balance in particular.

 

Yet in this age of skills shortages, diversity is now recognised as presenting a real competitive advantage for property companies, whatever their size. This means removing the cultural and socio economic barriers of entry and waking up to the fact that the sector needs to replace an aging, declining membership.

 

Numerous reports are currently assessing the anticipated changes in the land, property and construction industries for the next 20 years and attracting new blood into the property sector is a key area. So rather than simply highlight the problem, who’s doing what, to address it?

 

Attracting a diverse workforce has been the focus of an ongoing RICS campaign, Surveying the Future. This illustrates the breadth and range of careers in the industry. It supports the view that recruitment should be from across the spectrum, regardless of gender or social background. The industry can’t continue to fish in a very small pool.

 

The positive business case in support of a diverse workforce in the real estate sector is also good news. It’s best illustrated by the Ferguson Partners study of 160 Real Estate Investment Trusts which found that those with at least one woman on their board for more than three years produced clear growth in profits.

 

So how do we make the industry attractive? Well we spread the word of its breadth and depth; we work with academia, parents and guardians to get the message out to those making career decisions that the built environment is well worth considering. Initiatives such as Class of Your Own are doing just that.

 

But for the sector to see a positive change it needs to hit at all levels, including the need to adopt cultural change and remove unconscious bais. We know that in some parts of the industry, women frequently feature strongly in entry level and administrative positions but numbers drop off dramatically further up the ladder. The reasons include a lack of flexible working, a detrimental company culture, and a lack of visible leadership on the issue.

Women in Real Estate

The RICS Inclusive Employer Quality Mark, launched at one of the most comprehensive conferences on the subject earlier this year, is inviting organisations to sign up to six main principles, covering leadership and vision, recruitment, staff development, staff retention, staff engagement, and continuous improvement.  The take up is impressive and there seems to be a real buy-in and passion for change by those at the top, not just the HR community.

 

When CEO’s buy into this, and link the diversity message and gender balance to company performance, then we are well on the way to seeing real change. This can become a driver of business success, economic growth and investment returns –  who wouldn’t want to be on that journey!

 

So, let’s embrace diversity as a positive and important strategy of any business, but particularly in the property and construction sectors, where we have some catching up to do.

 

★ Don’t miss Louise Brooke-Smith  MIPIM UK this autumn as a panellist in the conference session Women in real estate: biases, barriers and breaking through

Louise-Brooke-Smith-diversity-property-sectorLouise Brooke-Smith is Director of Brooke Planning Consultants Ltd and Immediate Past President at RICS Dr Louise Brooke-Smith, BSc(Hons), DipTP, FRICS, MRTPI.

She has been awarded the Outstanding Woman in Construction Award Winner 2015 and Winner of the National WoW Women in Construction Award 2010. Connect on Twitter! @Lbslouise

Image credit: Sergey Nivens

About Author

Louise Brooke-Smith

Louise is a Chartered Surveyor and Chartered Town Planner with experience drawn, over 30 years, from the UK and overseas. As a Director of Consilio Strategic Consultancy Ltd., she advises a range of international investors & developers and is a well respected commentator on built environment issues and an experienced public speaker. Formerly an Equity Partner of Arcadis LLP (Global Consultancy for the Built Environment) where she was UK Head of Development & Strategic Planning, and Head of Social Value, Louise continues to advise the company as a Strategic Consultant providing strategic development advice for a range of clients from both the public and private sectors.

335 Comments

  1. Avatar

    como ganhar na lotofacil, acertar na lotofacil, ganhar na lotofacil, como ganhar na lotofacil de verdade, como ganhar na lotofacil sempre, como ganhar na lotofacil 2020, como ganhar na lotofacil 100 garantido, dicas lotofacil, como acertar na lotofacil, dicas para ganhar na lotofacil

  2. Avatar

    CBD jest niepsychoaktywna, ale ma wiele takich samych korzyści medycznych jak THC. To pozwala ci skorzystać z korzyści terapeutycznych bez pozostawiania cię z „ukamienowanym” uczucie, które często idzie w parze z THC.

  3. Avatar

    Thanks for sharing your thoughts. I really appreciate
    your efforts and I am waiting for your further write ups thanks once again.

  4. Avatar

    3) Whether or not a dwelling removals enterprise consists of its private vans and americans is a different issue that may well make a difference a perfect package. Just take take note, that there are some ‘briefcase operators’ who masquerade as household removals corporations. They acquire a undertaking towards on your own, and then seek the services of relaxed labor (merely as your self would consist of performed), prior to continuing in direction of use vans (back again, accurately as yourself would consist of finished upon on your own). Yourself could not include a circumstance with this settlement as extended as the relocation gets to be finished; nevertheless at minimum, your self need to contain perception as toward what just is taking place.

  5. Avatar

    I want to show my appreciation to this writer for rescuing me from such a crisis. After researching through the the net and coming across things which are not pleasant, I assumed my entire life was gone. Living devoid of the answers to the problems you have fixed by way of your short article is a crucial case, and the kind that might have badly affected my entire career if I had not noticed your blog. Your own talents and kindness in handling every aspect was priceless. I don’t know what I would have done if I hadn’t discovered such a step like this. It’s possible to now relish my future. Thanks for your time very much for the specialized and sensible help. I won’t hesitate to recommend the sites to anyone who should receive support on this subject.

  6. Avatar

    If you’re still on the fence: grab your favorite earphones, head down to a Best Buy and ask to plug them into a Zune then an iPod and see which one sounds better to you, and which interface makes you smile more. Then you’ll know which is right for you.

  7. Avatar

    Depending upon which one you like, you can have that. Fescue needs water, in addition, it needs fresh new. A common problem which i see is spray heads behind bushes that have outgrown the system.