NOTHING BUT THE TRUTH
At present, only 2% of the RICS’s professional members come from non-white, male
backgrounds. As property services companies and the clients they serve become
increasingly globalised, the property industry needs to respond to this change by
embracing greater ethnic diversity.
Relative to other professions, the property industry still lags behind in terms of ethnic
diversity. The average percentage of ethnic minorities working across the ‘Big Four’
accounting firms of PriceWaterhouseCoopers, Ernst & Young, Deloitte and KPMG is
15%. The figure is 11.4% for solicitors registered with the Law Society.
HISTORICAL BACKGROUND
The current phenomenon where the property industry is dominated by middle class
white males can be attributed to two broad factors. Firstly, there are individual
factors. Evidence suggests that many surveyors come from a background which had
a tradition of working in the property industry. This in turn nurtured their interest in
property from an early age leading them to study at universities with well-established
degree courses in the teaching of Land and Estate Management.
Secondly, there are interpersonal factors. Under-represented students often lack the
same breadth and informal contacts and may not be able to access influential social
networks. The professional body representing chartered surveyors in the UK – the
RICS, is acutely aware of this situation and has been actively taking steps to
increase ethnic diversity in the property industry.
BACK TO SCHOOL?
Arguably, to achieve greater ethnic diversity in the property industry, the industry
needs to widen the narrow pool of universities from which it recruits, increase
awareness about career opportunities in property and make the social environment
more culturally inclusive.
1
Property services companies including Jones Lang Lasalle, BNP Paribas Real
Estate, CB Richard Ellis, Cushman & Wakefield, GVA Grimley, King Sturge and
Knight Frank have each committed £10,000 to establish the recently launched
Changing the Face of Property initiative.
Firms such as Drivers Jonas Deloitte, which hosts property development education
events, have been visiting schools for several years to speak to 14 year olds before
they choose their GCSE options. It is about showing the students that they don’t
have to be a certain type of person to work in property and also don’t have family
working in the industry.
At the graduate level, the top property services companies have a tradition of
employing graduates from universities such as Reading, Oxford Brookes or
Cambridge, which typically attract more middle class students, this ultimately leads to
a limited gene pool. They should consider recruiting graduates from a broader range
of universities.
As the difficult economic climate remains firmly in the public eye, it is unlikely that
students from lower income families will be encouraged by the prospect of finding
work in the property industry after graduation. Initiatives such as Cushman &
Wakefield’s trainee surveyor scheme and the RICS Equal Opportunities Working
Group therefore become more significant. Cushman and Wakefield’s trainee
surveyor scheme involves taking on five A level students at Lambeth College and
funding them through university.
The benefits start from the final year at college and include financial support for study
and travel as well as Cushman mentor and training at the firm’s central London
offices for their first year on the Urban Estate Management degree course at the
University of Westminster. Their second, third and fourth years at university will be
part-time with four days at the Cushman office and one day at university with all
tuition fees paid.
Cushman & Wakefield’s desire to nurture and recruit surveyors who truly represent
today’s dynamic society and reflect their client base led them to link up with Lambeth
College and the University of Westminster. Both institutions are in central London
2
and have the diversity of people that would produce a workforce that matches their
clients who are increasingly global and from diverse backgrounds.
The Chartered Surveyors Training Trust is another initiative set up to create
opportunities for young people aged between 16 and 24 years to start a career in
surveying. It offers funding to cover fees, mentor support, networking support,
salaried employment, an employer based supervisor and counselling and pastoral
support.
AN ASSET NOT A LIABILITY
There is a business case for breaking down the barriers in terms of ethnic diversity in
the property industry. Diversity is about setting a mindset of valuing the differences in
people. To stay competitive, it is logical to encourage employees from the widest
pool of talent, as clients are both increasingly varied and demanding.
In addition to these humanistic values, there are also some tangible reasons for
managing diversity. Actively pursuing to achieve diversity in the workplace can
directly impact productivity and profitability. In an industry comprised of groups of
people with different experiences and backgrounds, more innovative and creative
ideas are a distinct result. The dynamic exchanges which occur between people with
different perceptions often yield creative results.
Firms that work on regeneration projects in particular need to be representative of the
communities in which they work. Those with a diverse group of staff are more likely
to be representative of the communities with which they work by offering a range of
inputs, views and experiences. There will be employees who clients identify with
which can lead to growth of the client base.
Global relationships are another aspect to consider. When engaging in business on
the international level, different philosophies and approaches will be encountered. In
an industry with a diverse group of employees, it can better reach out on a worldwide
level with a better understanding of how other cultures do business and this is a vital
component in doing business in today’s global marketplace.
3
ONWARDS AND UPWARDS
Mark Goodwin, director of external affairs at the RICS, states that non-white trainee
members represent 8% whilst non-white student members represent 18% of the
institution’s membership. Although the level of non-white qualified members is underrepresented, the student ratio is radically changing. As it is a large industry, there will
be a time lag before an increase in the number of non-white qualified members
becomes apparent.
The RICS plans to introduce several initiatives to help increase ethnic diversity in the
industry. This includes Professions for Good, launched this spring and is a public
benefit campaign that will work with the government to inform the society on ways
that different businesses contribute to the economy. This is in association with
professional bodies such as the Association of Certified Chartered Accountants, the
Bar Council and the Royal Academy of Engineering. The initiative will be on the
government’s careers advisory board which is a good opportunity to ensure that
careers advisers in schools know about the opportunities in property and promote
them to students.
THE SKY’S THE LIMIT
Hitherto, it has been demonstrated that the property industry is not as ethnically
diverse as other professions. There is room for improvement in embracing greater
ethnic diversity and benefiting from the varied talents and experiences such would
bring.
Investing in ethnic diversity in the property industry today is as valuable as investing
in other initiatives such as technology or marketing. It is important to realise that in
order to establish successful ethnic diversity in the property industry, it has to start
with management and become a solid part of the industry’s foundation.
4