Gagan Singh, CEO – Business & Chairperson – Sri Lanka Operations, Jones Lang LaSalle India
A close look at the Indian real estate industry and its various stakeholders reveals that this sector, which was once largely male-dominated, is slowly waking up to the imperative for greater gender diversity. It is not only International Property Consultancies (IPCs) like Jones Lang LaSalle India that are taking this issue more seriously. Indeed, many larger developer groups, real estate-focused lending institutions and private equity firms now have women in senior executive roles. The difference that these empowered women are making in all areas of the real estate industry is tremendous.
There are good reasons for this. The Indian real estate sector has, for the longest time, been functioning without the benefit of the unique qualities that qualified and determined women can bring to the table. Today, the fact that women in leadership roles bring an extra measure of empathy, acumen, assertiveness and determination to succeed to real estate business situations is being increasingly accepted as a given.
The simple fact is that our workplaces need gender diversity because:
- There is a shortage of employable resources in India – especially in the IPC domain – despite in the country’s huge population. By focusing more on gender diversity, the available talent pool practically doubles.
- Women are, by nature, wired differently. Both genders have their unique capabilities, and these capabilities are – even at the most fundamental levels – meant to balance each other and not exist in isolation. As such, a company that does not take gender diversity at the workplace seriously is losing out on an important synergy that can – and does – affect business at various levels:
- Women make more loyal employees, which has significant implications in terms of retaining talent which has been specifically trained and groomed for high-powered jobs at International Property Consultancies and other real estate-focused firms.
Where Women Excel
- Client Relations:
At Jones Lang LaSalle, it is an accepted fact that the empathy with which women approach the formation and maintenance of long-term client relationships is indispensible in the real estate business. In an industry which is often defined by a lack of certainty, clients look for more than assurances. They want to know that their concerns have been heard and acknowledged, and that their business interests will be proactively addressed. Thanks to the empathic nature of their gender, women real estate professionals are able to communicate both their understanding of these concerns and the Firm’s steadfast commitment to ethics, transparency and client-centeredness.
- Decision Making:
Because of the extreme levels of competitiveness and sometimes unstable market dynamics, the real estate business is often a high-adrenaline arena. When important decisions need to be made – on behalf of a client or internally – women can provide a calmer, more balanced viewpoint that leads to well-rounded and more astute conclusions. The ability to provide a calm and more holistic counterpoint makes women’s contribution to company decisions invaluable in terms of long-term business sustainability – and growth.
- Human Resources:
- An IPC such as Jones Lang LaSalle provides a huge diversity of services such as residential, commercial and land property transactions, tenant representation, strategic consulting, integrated facilities management (IFM), property and asset management (PAM), capital markets, etc.
- Every new candidate has his or her own unique qualities, and every existing employee displays unique potential for further growth. The ability to sense hidden qualities, character traits and emotional undercurrents allows women in an IPC’s HR department to sharp-focus on these areas in an individual, and to accurately position these talents to the most suitable vertical.
- Jones Lang LaSalle India has ensured that there is at least one woman representative in every campus recruitment team to ensure that women candidates get a fair chance, with a focus on increasing the percentage of women working at the firm.
Gender Diversity At Jones Lang LaSalle India
- Between 2011 and 2013, Jones Lang LaSalle India has increased the number of women in its workforce by 68% – from 496 to 835 women. The Firm has maintained a gender diversity percentage of 17.8 % in favour of women in this period alone. This percentage did not change despite the fact that Jones Lang LaSalle India increased its overall work force by 62% in this period – from 2888 in 2011 to 4688 in 2013. In fact, Jones Lang LaSalle India leads in Gender Diversity initiatives across JLL Asia Pacific.
- The number of women leaders in key decision-making roles at JLL has increased from 17 in 2011 to 26 in 2013. These include an international director, a regional director and four national directors. Two of Jones Lang LaSalle India’s women leaders spearhead regional roles across Asia Pacific, and the Firm has a women representative in the National Executive Council (the highest governing board of the organisation) constituted of seven representatives from the senior management, as well as two women representatives at the next highest level – the India Leadership Council.
- The Firm’s overarching gender diversity strategy primarily focuses on ensuring long-term career opportunities for women within the organisation. This is achieved through a focused recruitment strategy as well as constant talent upgradation, the result being that the Firm’s women employees have long and fulfilling careers. Also, their steady progress through the echelons of senior management helps fill key leadership positions with more women.
- Focused gender diversity initiatives such as the quarterly All India Women Connect webinars and on-ground Women Connect quarterly Open House meetings and workshops across offices help the Firm’s women employees maintain and increase their confidence, and also give them an effective platform to raise issues.
- Jones Lang LaSalle India maintains a 24/7 Staff Assistance Programme for all employees, which has proved to be an effective and highly popular medium for women staffers to discuss and obtain solutions for their personal or work-related issues anonymously with trained counsellors.
- Taking into consideration the special circumstances in a woman’s life that have relevance in their careers, Jones Lang LaSalle India has also extended its Maternity Policy by an additional three months on a leave without pay basis, beyond the three months of paid maternity leave.
- The Firm undertakes special security measures for women, who can avail of a car drop facility should their work require them to stay beyond routine office hours. Moreover, Jones Lang LaSalle’s global ethics manifesto ensures that every woman employee, regardless of ranking within the hierarchy, is fully protected from sexual harassment or any other kinds of inappropriate behaviour.
- Jones Lang LaSalle India was recently included in the list of Top 10 Organisation on Gender Diversity Best Practices by National HRD Network, Delhi & NCR Chapter. The Firm was amongst the chosen few, which included stellar organisations such as GE, Coca Cola, SAP, Bharat Petroleum, Zensar, IBM, Fluor Daniel, Citi India, etc.
On The Flip-Side
When it comes to a convincing gender diversity ratio at an industry level, it is certainly still early days for Indian real estate. Traditional bastions are not entirely demolished overnight, and it takes time for mind-sets to achieve 360-degree turnabouts. The case for even stronger women representation in this sector is overwhelming, but real estate in India is an industry of which less than 10% is fully organized.
While we are doubtlessly witnessing increasing gender diversity at the sector’s corporate level, one cannot ignore the fact that the industry itself is still in throes of gaining maturity. Nevertheless, Indian real estate is on the way towards greater transparency and ethical governance – and not without resistance at certain levels. This change resistance is not a new phenomenon, and must be factored into the overall picture when we speak of gender diversity in the sector.
Conclusion
Meanwhile, the corporate world can be the leader of change, as it has been in so many other areas. The world has always taken its cues from those who set the right example and walk the talk. Change is inevitable as a country’s economy grows further on the heels of globalization and corporatization.
We will certainly see more women assuming leading roles at every level of real estate development and consultancy in the years to come. Gender diversity is a revolution whose time has come, and there is no turning back the incoming tide.