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Grow the Talent Pool Grow the talent pool Insights on gender representation, diversity and inclusion in the property industry Acknowledgements The Property Council of Australia established the Property Male Champions of Change (PMCC) in 2015 to drive gender equality in the property industry and increase the number of women in leadership roles. The PMCC is committed to achieving a significant and sustainable increase in the number of women in senior leadership positions in the property industry, to work together and to lead with visible action. The PMCC is convened by business leader Carol Schwartz AM, a former Property Council National President, and brings together senior leaders across the industry’s development and construction, investment, funds management and agency sectors. We would like to acknowledge the work of Carol Schwartz AM as convenor and the Property Council’s Chief Operating Officer Kathy Mac Dermott for their valuable contribution to this research and report. We would also like to acknowledge the leadership and vision of: The Property Male Champions of Change Implementation Leaders • Carmel Hourigan, AMP Capital (Special Adviser) • Amanda Jones and Lisa Hurley, AMP Capital • Ray Pittman, CBRE Australia & New Zealand • Geoff Warren, CBRE Australia & New Zealand • David Harrison, Charter Hall Limited • Greg Chubb, Charter Hall • John Kenny, Colliers International • Sara Pratt, Colliers International • James Patterson, Cushman & Wakefield • Karina Cossum, Cushman & Wakefield • Darren Steinberg, Dexus • Dan Cook, Dexus • Selina Short, EY (Special Adviser) • Rohan Connors, EY • Rod Fehring, Frasers Property Australia • Ranna Alkadamani, Frasers Property Australia • Jonathan Callaghan, Investa Property Group • Amy Wild and Sarah Hua, Investa Property Group • Daryl Browning, ISPT • Simon Grant, ISPT • Stephen Conry, JLL • Adrienne Revai, JLL • Stephen Ellis, Knight Frank • Sharon Woodley, Knight Frank • Steve McCann, Lendlease • Michael Vavakis and Jane Hansen, Lendlease • John Mulcahy, Mirvac • Kristen Sweeney, Mirvac • Ken Morrison, Property Council of Australia • Raymonda Scarcella, Property Council of Australia • Steven Leigh, QIC Global Real Estate • Melissa Festa, QIC Global Real Estate • Paul Craig, Savills • Steven McMahon, Savills • Peter Allen, Scentre Group • Ian Irving and Janine Frew, Scentre Group • Mark Steinert, Stockland • Andrew Blakemore, Stockland • Bob Johnston, The GPT Group • Phil Taylor, The GPT Group • Grant Kelley, Vicinity Centres • Regan Bunny, Vicinity Centres For more information on the Property Male Champions of Change (PMCC) please visit http://propertycouncil.com.au/pmcc 2 | Grow the talent pool Insights on gender representation, diversity and inclusion in the property industry Contents 02 Acknowledgements 04 Foreword 05 How has the property industry changed over the past two years? 08 What should the industry focus on next? 14 Actions to grow the talent pool 16 Women in the property industry 18 Kate Charlton, Assistant Development Manager, AMP Capital 20 Amanda Steele, Executive Managing Director, CBRE Asia Pacific 22 Elena Seymour, Asset Manager, Charter Hall 24 Maria Agostino, Manager, Industrial, Colliers International 26 Kristy Megaw, National Operations Manager, Cushman & Wakefield 28 Deborah Coakley, Executive General Manager, Funds Management, Dexus 30 Sarah Scruby, Development Manager, Frasers Property Australia 32 Sally Franklin, Group Executive, Real Estate Services and Business Operations, Investa Property Group 34 Danielle Dalby, Property Investment Manager, ISPT 36 Noral Wild, Head of Alternative Investments – Australia, JLL 38 Andrea Brown, Partner, Head of Project Management & Building Consultancy, Knight Frank 40 Emma Woodhouse, Project Director, Commercial, Urban Regeneration, Lendlease 42 Susan MacDonald, Head of Retail, Mirvac 44 Belinda Ngo, Executive Director - Capital Markets, Property Council of Australia 46 Briar Dowsett, General Manager, Funds Management, QIC Global Real Estate 48 Rachel Coates, Associate Director – Student Accommodation, Savills 50 Lillian Fadel, Group General Manager of Centre Experience, Scentre Group 52 Louise Mason, Group Executive and CEO Commercial Property, Stockland 54 Anastasia Clarke, Chief Financial Officer, The GPT Group 56 Fiona Mackenzie, General Manager Chadstone, Vicinity Centres 58 Contact us Grow the talent pool Insights on gender representation, diversity and inclusion in the property industry | 3 Foreword o support the Property Male also believe the industry is much more diverse and Champions of Change (PMCC) inclusive than it was just two years ago. strategy, EY and the Property Council undertook research in 2016 The industry has established many of the systems, to understand property career practices and policies required to support greater pathways, as well as the barriers gender diversity and inclusion, and this is Tand drivers to recruiting, retaining and acknowledged repeatedly in the interviews with promoting women. female leaders included in this report. However, achieving leadership parity and large-scale cultural The results were illuminating. We found that many change takes time. Indeed the survey shows that in female property leaders “fell into property by some important areas there has been little or no accident”. As leadership is often predicated on progress. There is still much work to do. property industry experience, many women were hitting a glass ceiling at middle management level. We know that innovation occurs at the intersection of diverse ideas and perspectives. This research The report also revealed three key barriers underscores the diversity of backgrounds and preventing women from rising through the ranks in experience that women bring to the property the property industry: the boys’ club mentality, pay industry. Women are more likely to start their inequality and lack of diversity in senior leadership property careers with a foundation of education and positions. work experience in other industries, whereas men are more likely to have a set of property-specific In 2018, we conducted a second wave of research to skills and experience. The case studies of 20 women identify any shifts in attitudes, behaviours or included in this report emphasise this divergence industry sentiment over the past two years. The and demonstrates how diversity of thought adds research explored women’s entry into the property value not just to individual property companies and industry and their career progression. It also our industry, but to the broader Australian included a new focus on men’s and women’s community. experience of everyday sexism in the workplace. More than 2,600 employees participated in the The findings from this report contribute to the survey across 18 PMCC companies. We also growing body of evidence which supports diversity interviewed 20 women in diverse roles and different and inclusion as a business enabler. In a time of stages of their careers to capture their pathways increasing change and disruption, further into property and their experience of the industry. advancement of genuine diversity and inclusion will help the PMCC and other property leaders to This report highlights a number of significant accelerate change across the industry. changes over the last two years, and many of these changes are positive. Workplace flexibility is increasingly normalised and more workplaces accommodate caring responsibilities for both men and women. There is greater awareness around the gender pay gap among men, and many companies have taken long strides to close that gap. People 4 | Grow the talent pool Insights on gender representation, diversity and inclusion in the property industry How has the property industry changed over the past two years? “I am confident that the “Every organisation is industry’s collaborative hungry for innovation, and nature will continue to drive one of the core indicators of the diversity agenda.” innovation is diversity.” Sally Franklin, Group Executive, Real Estate Amanda Steele, Executive Managing Director, Services and Business Operations, CBRE Asia Pacific Investa Property Group While there is still much work to be done to achieve gender equality across the industry, substantial structural improvements have been made throughout the industry as corporate policies and workplace cultures evolve. Leaders have stepped up and are leading tangible change in their organisations. Companies are now more accepting and supporting of employees who require flexible working arrangements or who have caring responsibilities outside of the workplace. Indeed, flexibility is being used as a recruitment tool. People’s perceptions of the industry’s diversity and inclusiveness have also improved, and more people are aware of the gender pay gap. Grow the talentGrow pool theInsights talent on poolgender Insights representation, on gender diversity and inclusion in the property industry | 5 Normalising flexibility and caring Workplace flexibility The property industry has advanced attitudes to flexible working arrangements and supporting staff to work where and when best suits their personal 22% needs. There has been a shift from presenteeism Women attracted to the and hours of work to outcomes. The industry is also industry by flexible working more supportive of staff with caring responsibilities conditions (16% in 2016) (such as children or elderly parents). The impacts of this progress have been felt by both The industry is more attractive to women and men, and are widespread and positive. potential employees
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