According to PwC, only 22% of property firms in the UK are owned by women, but this is only part of the story as the Federation of Master Builders states that only 2% of all construction companies are fully owned by women. These figures highlight the need for diversity and inclusion in the property sector.
Several studies have shown that companies with women in leadership and board roles tend to perform better financially than those without.
However, the relationship between gender diversity and financial performance may not be straightforward and can depend on various factors, including the industry, company size, and the specific roles of women in leadership.
In the property industry specifically, there is some evidence to suggest that companies with more diverse leadership teams tend to achieve better financial results. For example, a 2020 report by the Royal Institution of Chartered Surveyors (RICS) found that companies with more women in leadership roles tended to outperform those with fewer women in terms of profitability, productivity, and employee engagement.
However, it’s worth noting that while having more women in leadership roles may be associated with higher profits, other factors, such as the company’s culture, management practices, or market conditions are also relevant.
Additionally, gender diversity is just one aspect of overall diversity, and companies that prioritise diversity and inclusivity across all dimensions may see even greater benefits.
Research has shown that diverse cultures and teams can increase profits in a number of ways.
Firstly, a diverse team can bring in a range of perspectives and ideas, which can lead to more creative solutions and innovations. This can help a company to stay competitive and adapt to changing market conditions more effectively.
Secondly, a diverse team can help a company to better understand and connect with a wider range of customers and clients. This can lead to increased sales and revenue.
Finally, a diverse team can help to create a more inclusive and supportive workplace culture. This can improve employee morale and retention, which can in turn lead to higher productivity and profitability.
Overall, there is strong evidence to suggest that companies that embrace diversity and inclusivity can reap significant financial benefits.
So… with the potential to increase profits…. reduce employee turnover…..and build a happier more inclusive company. Why aren’t more companies in all sectors investing in the development of an inclusive workforce?
Netwomen is raising awareness, taking action and supporting companies and individuals to recognise this inequality and to build an inclusive future where all of us have equity of opportunity!
Netwomen Division Director UK, Michelle Almeida