Mirvac chief sees the sense in diversity
For Mirvac's managing director, Susan Lloyd-Hurwitz, diversity in the workforce is not just about social equity, it also makes better business sense.
That's a key point for Ms Lloyd-Hurwitz, one of the highest-profile women in a male-dominated industry, as the $8 billion property company she leads embraces change.
"All the research tells us that diverse teams make better business decisions," Ms Lloyd-Hurwitz told The Australian Financial Review ahead of her speech to a Property Council of Australia lunch on Monday.
"We've got be, as an industry, a lot more open to different points of view and inclusion. It's not just gender, it's background, education, sexual orientation, where people come from."
There are a number of strategies for overcoming a lack of diversity, including vigilance on issues such as career paths and pay parity.
Combating a tendency for employers to hire new staff in their own image is necessary.
And at Mirvac, and elsewhere in the industry, creating more flexible workplaces is proving to be one of the most effective ways of cultivating a more diverse, and better-performing, workforce.
"People who have some kind of formal or informal flexible arrangement are significantly more engaged than those who don't," Ms Lloyd-Hurwitz said.
"Engagement is the single most important driver of success."
Overcoming 'presenteeism'
That means overcoming "presenteeism", the anxiety of employees, and their managers, to be seen to be at work.
Under one program adopted by Mirvac, staffers identify a commitment outside work that will improve their quality of life, such as parenting duties, or study or caring for elderly parents. It is even being adopted on Mirvac construction sites.
"If we can do it there we can do it anywhere," Ms Lloyd-Hurwitz said.
The Mirvac chief was one of seven women property leaders interviewed for a new study into women's pathways into and through the property industry.
The study, Grow the Talent Pool – Insights on gender representation in property, was released on Monday by the Property Council and EY.
EY's market segment leader for Real Estate, Construction, Leisure and Hospitality, Doug Bain, said the key drivers of success for women in property were found to be the support of management, the opportunity for a career path and a passion for the industry.
The research found that women are more likely to fall into property by accident and to have gained experience outside of the property industry, working in a range of sectors that provide different thinking and transferable skills.
Key barriers to the progression of women in the industry were pay inequality, the lack of diversity in senior positions and the "boys club" culture.
The study, involving more than 3800 people in the industry, found strong support for more flexible working amongst both women (49 per cent) and men (45 per cent).
This article originally appeared in the AFR: http://www.afr.com/real-estate/mirvac-chief-sees-the-sense-in-diversity-20160722-gqbysv#ixzz4K5QGmPyz