In UK real estate, women are emerging increasingly as leaders, challenging stereotypes and reshaping the industry’s future, but is the pace of change acceptable?
The stats could be better. Less than one-third of executive teams in real estate have female employees, and the increase in representation from 2018 to 2019 was only 1%*, suggesting a snail’s pace of change.
We urgently need senior leadership to drive diversity and inclusion initiatives. Organisations must implement policies and practices that promote gender equality and empower women to ascend leadership ranks. We must create an environment where women can thrive, from entry-level to leadership.
What is particularly worthy of note is that not only is supporting women ethically the right thing to do, but there is also a proven business case for gender diversity; numerous studies correlate diverse leadership teams will enhance financial performance, innovation, improved decision-making and heightened employee engagement **.
Practically speaking, how do we achieve greater female representation?
- Leadership commitment
- Data-driven interventions
- Accountability mechanisms
- Mentorship programmes
- Flexible work arrangements
At The Management Recruitment Group, inclusivity is one of our core values. As real estate recruitment specialists, we are committed to increasing the presence of women in senior real estate roles. In 2023, one of every three directors and heads of departments placed in real estate roles with MRG was a woman. We all have work to do, but we are proud to contribute to the advancement of women in real estate.
In conclusion, the journey towards gender equality in UK real estate is multifaceted, requiring concerted efforts from all stakeholders. Organisations can chart a more equitable future where women are empowered to lead, innovate, and drive positive change. As we navigate the complexities of the real estate landscape, let us seize this opportunity to break down barriers, shatter glass ceilings, and usher in a new era of inclusive leadership.
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*https://www.mckinsey.com/~/media/mckinsey/featured%20insights/diversity%20and%20inclusion/diversity%20wins%20how%20inclusion%20matters/diversity-wins-how-inclusion-matters-vf.pdf
** https://assets.kpmg.com/content/dam/kpmg/us/pdf/2019/05/building-the-blueprint-for-change-women-in-real-estate-paper.pdf