Today’s business hiring practices are leaning further and further towards ethical recruitment and equal opportunities. More women than ever are being offered the chance to join firms at CEO level. Why is this? How might it benefit the property industry in particular?
In this article, the bloggers at Property Solvers look at some of the ways in which hiring female workers at executive level within your property firm may result in huge improvements when it comes to your performance, your reputation and your levels of public trust.
According to the Peterson Institute for International Economics, the impact of hiring women in executive roles is measurably transformative. Net profit margins are notably increased in companies with female directors – almost anywhere in the world.
Firms that feature women at executive level tend to be perceived by talented job seekers as fairer and more welcoming thanks, at least in part, to their rejection of any gender divide.
As a result of hiring women in top positions, strong candidates of all genders and backgrounds will be more likely to develop an interest in your firm and will stay there long-term. Your reputation in the eyes of the general public may also improve.
In the UK property and construction industries, latest estimates suggest that only 15% of the workforce is made up of women. Improving this figure may result in more successful headhunting and an improved level of retention.
According to the Human Capital Hub, female-led companies tend to lead the majority of industries in terms of approaches to marketing and publicity – including online presence – as well as event delivery.
These approaches are vital for firms that wish to build a strong reputation – and trust is vital when it comes to selling, letting or managing real estate.
The last few years have revealed to us just how vital strong leadership is in times of societal or financial turmoil. This has been particularly notable in the property industry, where the risks inherent in the COVID-19 pandemic have threatened to topple housing markets.
According to the Harvard Business Review, female CEOs are particularly adept at crisis management – so your company is far more likely to weather an upcoming storm is there is a woman at the helm.
Female CEOs tend to be more likely to focus on matters such as equal pay, childcare provision, ethics and fair treatment than their male counterparts.
These aspects should be considered a key part of any company’s moral code – and are also carefully scrutinised by unions as well as decision-makers among audiences.
Whether actively or subconsciously, many businesses of the past failed to grasp opportunities to hire ingenious innovators and revolutionary thinkers by narrowing their recruitment pool to only men.
By pursuing equality in your hiring approaches, your business will be able to have the pick of a much wider range of candidates.
Historically, far fewer women than men have been appointed as heads of major companies – often due to prejudices that were unfortunately prevalent in times gone by.
This means that many women CEOs will be the first of their gender in their family to head up a business – a factor that may influence “out-of-the-box” thinking and a fresh, inventive perspective.
Equality in recruitment should not only be a moral obligation – it also provides clear benefits to businesses across the industrial spectrum.