The gender pay-gap and diversity are societal issues that have dominated the front pages of newspapers over the last quarter. From Amber Rudd’s comments on it making no sense to fill boardrooms with men, to the letter from Black Rock’s CEO to public businesses calling for them to account for their effect on society; it is clear that business can no longer be solely about delivering profits, but also making a positive contribution to the wider society.
Given the size of KLM Retail (we are a team of 26 surveyors) we wondered what we could do to look at these issues within our own firm. Not surprisingly given the industry in which we operate, the question of gender arose as a key issue which needed addressing. We currently have three female surveyors at KLM Retail and no women at partner level. This is something that we want to change and we are very keen to create a work environment that not only attracts but also fosters and develops the best female talent in the sector.
The question is how? How can you attract the best female talent to the firm without already having that talent in place? How can we ensure that women’s voices are heard in partner’s meetings and that junior surveyors feel that they truly have a clearly defined career path with us.
Three of our graduate surveyors, Sophie and our two latest recruits, Alice and Victoria ( you can read their Q&A on joining KLM Retail here) attended a breakfast seminar organised by Bisnow “Women Leading Real Estate” to find out more about how these issues are being tackled in the wider industry.
Leadership
As with anything, the drive to change the old stigma of the property industry being a bastion for white middle-class men, must come from the top. The firms with the most balanced gender split in the industry have adopted a modern and inclusive leadership style which enables women to feel empowered at work. This ranges from ensuring that graduates have access to female mentors, to offering good maternity leave packages and flexible working options that allow mothers to return to work.
Driving change and building a pipeline of aspiring young leaders
As an industry, real estate is not often top of the potential career list for a young girl. There is a real need to change the face of property and raise its profile as a career of choice amongst women. Women in leadership have a role to play as ambassadors for the sector, whether this is through visiting their old school to talk about the industry or stepping up as a role model; women in the sector need to be a lot more vocal in setting the terms. They need to show passion, energy and resilience not only building their own career, but also in laying the path for their junior female colleagues.
Given the recent findings from the report by McKinsey ‘Delivering on Diversity’ highlighting the correlation between gender diversity and profitability, creating a more diverse and gender balanced team is a top priority for us. With the next generation of graduates coming through, there is a real opportunity to keep the momentum going and move from talking about diversity policies to implementing them. For the female members of the team, it is an exciting time to work in property and to be part of this change. For many, it feels like the dawn of a new age for real estate.
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