Real Estate Balance seeks to support organisations in the UK real estate sector through the different stages in their journeys towards gender diversity. Some already have well-advanced policies and are setting the standards for best practice, but many others lag and some are only just starting to recognise the business benefits of a diverse workplace.
If you need help to improve your gender diversity, you’ve come to the right place. This Toolkit offers practical guidance and information on some of the best advice and good practice already available, not just from our own sector but from the wider business community. Our aim is to give you the tools to make yours a better balanced business and a diverse workplace.
The success of initiatives to improve gender diversity is typically dependent on leadership commitment. It’s easy to set objectives, another thing entirely to deliver them. We think there are three keys to success. Crack these and you are well on the way to transforming your business.
A diverse corporate culture is one where everyone has a chance to reach their full potential. But the UK real estate sector is failing to capitalise on its female talent, with a male to female ratio of 81:19 at Board level (Real Estate Balance research, 2016).
Women are better represented than ever before in the sector, but they are less likely to receive the first critical promotion to manager and then progress at slower rates than their male counterparts.
The problem lies in corporate cultures where long-established practices and attitudes prejudice women, either consciously or unconsciously. Develop inclusive management practices and the business benefits will speak for themselves.
Opportunity means giving everyone the chance to reach their potential, but that is not happening for many women in real estate and businesses are losing out. Millennials moving into the workplace today want to work for inclusive organisations that offer interesting and challenging career opportunities. If you don’t meet their expectations, they will look elsewhere.
Nearly half the intake into the UK real estate sector is female, but fewer than 20% of board positions are held by women. To tackle this gender gap and capitalise on wasted female talent, workplaces need fair and objective recruitment and promotions at every level.