Real estate remains a “secret sector” that is difficult to access socially and economically, according to a new survey of under-35s working in the industry, but there are signs of improvement when it comes to inappropriate attitudes and behaviours in the workplace.
The research was carried out by the NextGen committee at Real Estate Balance, the campaigning organisation set up in 2015 to improve diversity and inclusion in the real estate industry.
Some 245 participants shared their views on widening access to the sector, inappropriate attitudes and behaviours in the workplace and working from home.
NextGen’s previous research in 2020 highlighted the barriers to entry to the industry and this year’s research confirmed there has been no real progress on breaking these down, with 80% of those taking part having heard about the industry by chance or via a friend or family member.
An even higher percentage of people agreed “strongly” or “somewhat” that real estate is still a “secret sector”.
The NextGen committee said this inertia may in part be due to the challenges of raising awareness of the industry, particularly within schools, during the pandemic. The most-favoured actions to reduce barriers to entry included awareness raising, school talks, a variety of entry points for school leavers, more apprenticeship schemes and better hiring practices.
On a more positive note, respondents reported an overall reduction in inappropriate attitudes and behaviours in the workplace and an increased confidence in reporting such behaviour.
“Structural change takes time, but the rise of the Black Lives Matter movement coinciding with the pandemic has, in our opinion, resulted in a cultural shift in the UK, with increased emphasis being placed on D&I by both employees and employers,” said Carolyn Milligan, senior associate at Herbert Smith Freehills and co-chair of the NextGen committee.
However, the committee was disappointed to find that, where such behaviour did occur, more than 53% of respondents said it was rarely or never called out. Of the 41% of respondents who had seen an active improvement in addressing these behaviours, this had been done via awareness raising, training, policies and action from senior leadership.
The survey also asked participants about their experiences of remote working, with responses highlighting the importance of human interaction. They identified the most challenging aspects of remote working as social interaction (51%), connecting with colleagues (50%) and networking opportunities (41%).
“In the new hybrid working world, how organisations tackle this issue will be key to supporting and retaining NextGen talent,” the report said.
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