‘Boys club’ still dominates property industry: survey
A career in property was “accidental” for many senior women in the sector including Mirvac managing director Susan Lloyd-Hurwitz and AMP global head of property Carmel Hourigan.
Lloyd-Hurwitz trained as a lawyer, rejected law as a career and undertook an honours year in urban geography with her thesis: the migration of Icelanders to Australia.
“I wasn’t sure what I wanted to do after graduation when my supervisor told me about a research job with Knight Frank,” she tells a new report on diversity from the Property Council of Australia.
From there Lloyd-Hurwitz moved to Lend Lease when it controlled GPT, then to Macquarie Group and LaSalle Investment Management, garnering international experience in the US and Britain along the way.
The report, “Grow the talent pool — Insights on gender representation in property”, surveyed more than 3800 people in the property industry and interviewed seven women in leadership roles.
I think the biggest issue is that women haven’t historically been able to control the P&L (profit and loss statement)
The survey was undertaken by EY, which is part of the Male Champions of Change group of 18 companies. EY last week released key figures showing 62% of women and 35% of men surveyed identified the “industry’s boys’ club mentality” as the number one barrier to women entering the property industry.
Pay inequality and lack of diversity in senior positions were also seen as deterrents.
Women see a “boy’s club mentality” as a significant barrier within the property industry.
The report comes after real estate agency Colliers International last month settled allegations of sexual harassment against former chief financial officer Sean Unwin, brought against him by former colleague Alexandra Marks.
Property Council chief executive Ken Morrison says the study found there is a “huge opportunity to expand the industry’s talent pool”.
AMP’s Hourigan advises leadership aspirants to be well versed in the company’s accounts. “I think the biggest issue is that women haven’t historically been able to control the P&L (profit and loss statement),” she says in the report. “If you have the numbers right, you will always demonstrate your capability and that you can do the job.”
62% of women and 35% of men surveyed identified the “industry’s boys’ club mentality” as the number one barrier to women entering the property industry.
The other female executives interviewed in the report were Charter Hall head of finance Anne Edwards, Dexus chief financial officer Alison Harrop, former Investa executive Ming Long, Green Building Council chief executive Romilly Madew and Grocon chief Carolyn Viney.
While women and men had similar leadership aspirations, only 28% of women were in leadership roles, the report notes.
EY head of real estate Doug Bain says the key requirements for women to succeed in the sector are support from management, opportunity for a career path and a passion for the industry.
This article originally appeared on www.theaustralian.com.au/property.
