Women have long been underrepresented in leadership roles in the Indian real estate sector. Across the globe, from India to the United Kingdom and the United States, statistics reveal a stark gender disparity within real estate enterprises. For instance, India only boasts 2% of female executives in construction enterprises, in comparison to 14% in the UK and 7% in the US. These numbers not only highlight the magnitude of the issue but also highlight the urgent need for proactive measures to address gender inequality in real estate leadership.
Also Read: 5 Real Estate Investment Tips For Women
A report by JLL paints a concerning picture: a mere 12% of the Indian real estate workforce comprises women. This disparity persists despite women’s increasing participation and contribution to various sectors of the economy. Systemic barriers hinder women from ascending to leadership positions within the real estate industry, perpetuating a cycle of inequality and limiting the industry’s potential for growth and innovation.
One of the most glaring manifestations of gender inequality in real estate leadership is the persistent pay gap. Studies have shown that women in leadership roles within the real estate sector face a 15% pay gap compared to their male counterparts. This disparity not only reflects institutional biases but also serves as a deterrent for women aspiring to leadership roles, perpetuating a vicious cycle of inequality and underrepresentation.
Closing the Gap: Mentorship as a Catalyst for Change
In response to these challenges, mentorship has emerged as a powerful tool in advancing women in real estate leadership. Research conducted by organisations like Catalyst suggests that mentorship programs can significantly improve promotion rates for women across industries. By providing guidance, support, and opportunities for skill development, mentorship programs empower women to navigate the complexities of the real estate industry and overcome barriers to advancement.
Regardless of the field, mentorship programs have been shown to enhance mentees’ self-assurance and equip them with the necessary skills to thrive in leadership roles. In the context of real estate, where confidence and assertiveness are invaluable attributes, mentorship helps in personal and professional growth, enabling women to assert their presence and make meaningful contributions to the industry.
By fostering a supportive network and nurturing talent, mentorship creates an inclusive environment where women feel valued and empowered to excel. As women develop meaningful relationships with mentors and peers, they are more likely to remain engaged and committed to their careers, driving long-term organisational success.
Targeted skill development programs can aim to equip women with the necessary tools and expertise, enabling them to emerge as a formidable cohort of female executives poised for success in the real estate industry.
As the industry grapples with gender disparity and strives to promote inclusivity, mentorship programs offer a tangible solution to bridging the gap. By providing guidance, support, and opportunities for growth, mentorship empowers women to overcome barriers and achieve their full potential in real estate leadership roles.
As organisations embrace mentorship as a strategic imperative, they not only invest in the success of individual women but also the sustainability and prosperity of the real estate industry as a whole.
-The author is director of Manglam Group and founder president of CREDAI Rajasthan Women’s Wing. Views expressed are personal.
Comments
0 comment