The Indian Real Estate industry has long been regarded as a male-dominated field. However, with changing times, it is crucial for the industry to empower women and provide them with equal opportunities to supplement inclusive, holistic growth. By promoting gender diversity, fostering a supportive environment, and investing in women’s professional development, the real estate sector can harness the full potential of women and drive progress:
1. Embracing Gender Diversity: Empowering women in the real estate industry begins with recognising the value of gender diversity. Developers should actively promote a culture of inclusion and ensure that women have equal opportunities for development. By embracing diverse perspectives and experiences, the industry can tap into a broader range of ideas, strategies, and innovations.
2. Creating Equal Opportunities: It is crucial to create equal opportunities for women in the real estate industry. Developers, while recruiting new resources, should establish fair and unbiased recruitment practices, ensuring that women have an equal chance to compete for positions. This includes addressing any unconscious biases in the hiring process and providing training to promote equal treatment and opportunities for advancement.
3. Increasing Transparency: Transparency is key to empowering women in the real estate industry. Companies should strive to create a transparent work environment, where policies, processes, and decision-making criteria are clearly communicated and accessible to all. This helps ensure that women have an equal understanding of the opportunities available to them and are not disadvantaged by opaque practices.
4. Creating Mentorship Programs and resource groups: Mentorship plays a crucial role in empowering women and fostering their professional growth. Real estate organisations can establish mentorship programs and resource groups that pair experienced industry leaders with aspiring women professionals. These programs not only provide guidance and support but also companionship that yields valuable insights helping women navigate challenges and develop the necessary skills to excel in their careers.
5. Recognising Women’s Contributions: Bringing women to the forefront and recognising their contributions is crucial for their empowerment. Real estate organisations should actively highlight and celebrate the achievements of women professionals through awards, and industry publications. This not only promotes gender equality but also inspires and motivates other women to pursue careers in real estate.
It is time for women to break the glass ceiling of the existing stereotypes, but to truly achieve equity, developers shall take the first step. Future expansion in the real estate business requires all the resources that it can gather to achieve higher ROI and build more trust among their consumers. As a result, it goes without saying that the Indian real estate business stands to benefit much from being more accommodating to female employees.
-The author is President, Confederation of Real Estate Developers Associations of India (CREDAI). Views expressed are personal.
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