The gender pay gap has long-term implications for every real estate business according to Helix Property Advisors, who hosted yesterday evening’s ‘Negotiating the Gender Pay Gap’ event in London in association with negotiation specialist advantageSPRING and the Guardian newspaper’s Women in Leadership section.
Helix Property Advisors’ Director of Property & Asset Management, Yvonne Smith, said: “Despite the high profile of many businesses in the property sector, and regardless of the credible and significant progress made in recent years, the number of women on the boards of listed property companies stands at just 20.2% which simply isn’t good enough.
“Working in an industry where success is based on your ability to create and manage ‘places’ that appeal to a diverse population, it amazes me that there is still a lack of diversity in so many companies. If we are to comprehend how different people, all with different cultures and perspectives, respond to the buildings and open spaces we construct for them to live in, work in and spend their leisure time, then surely property businesses must endeavour to be just as diverse? If, as property businesses, we do not understand or reflect the diversity of our communities, how can we expect to deliver what our customers want?
“Not only are there too few women working in the real estate sector but, sadly, many of those who do have a career in property find themselves penalised by a gender pay gap which is far larger than the national average. This disparity is not only unjust but has long-term implications for the future of every real estate business.
“At Helix Property Advisors the board of directors has a 50:50 split between men and women. We pay our staff equally, based on merit and performance, not on what sex they happen to be. This is not because of quotas or marketing opportunities but simply because it makes good business sense.
“If we wait for legalisation to change this situation we will be waiting for ever, so it is important that we do not rest on our laurels. The reason for holding the event this week is that, based on the pay gap in the UK, as of this week women are working for free for the rest of the year compared to their male counterparts. With the average pay gender gap standing at 17.5%, women in the UK earn £5k a year less than their male colleagues – a situation that is totally unacceptable.”