Women Representation Changing The Face Of Indian Realty
The Indian realty sector, which has 5 to 6 percent share of the country’s GDP and is the second largest employer, is yet to undertake major strides when it comes to having a healthy share of women employed in the sector, especially at the leadership levels.
By remaining largely gendered, the sector is losing out on some rich values, talent and skillsets that other sectors are benefiting from. For there are a number of studies that have emphasized upon the importance of gender diversification and how it has contributed in the sectoral growth.
In the past two decades, the banking and finance sector has gained immensely from the contribution of its women employees at all levels of workforce, from entry level job roles to leadership positions.
The real estate sector too can immensely gain by more women representation at various roles. Women may not be confined to work only with the developers; they can also work with the property consultancy firms.
Sound negotiation skills and complete familiarity with local conditions and communities can help women employees achieve targets. They can drive a higher customer satisfaction ratio as they are more empathetic than their male counterparts and can offer service with a smile. Women employees are rising the echelons due to their no-nonsense approach; it accentuates the level of trust and credibility for the organization.
The Challenges
However, within the real estate sector, the challenges due to exclusivity persist. The reason behind gender disparity is the different growth trajectory of the sector. Most of it being primarily a family-owned business, women were traditionally kept away from active operations especially due to its highly disorganized nature.
Furthermore, there’s a common apprehension that employers feel is that the women employees may not continue to work with the same zeal and enthusiasm post their marriage. It is a general belief that the chances of women returning to the professional realm after motherhood is bleak.
This stereotype broke when careerists showed the world that motherhood is not a hindrance rather it is an opportunity to upskill oneself as a multi-tasker. Women are doing justice to their dual roles and multitasking to prove their potential. Companies are allowing women employees to plan and take pre-determined sabbaticals to manage their resources well.
The Solution
To address these challenges which are plaguing the sector, industry bodies like CREDAI have time and again encouraged gender diversification and inclusivity within the sector.
The situation is not stagnant anymore. Women employees with skills and talent are rising up the ranks based on their merit. With changing times, more women have found space in the sector, presently occupying more of sales and marketing, finance, administration and human resource management roles.
Systemic changes also have contributed to the growth in women participation in the sector. Various regulatory mechanisms established by the likes of RERA are making the real estate sector transparent.
Similarly, GST and other policy measures are fostering a professional environment. With increasing professionalism, it is slowly opening up to women and has started reaping the benefits as women bring in a stronger organizational quality to the unregulated environment.
The entry of multi-national property consultants into the Indian realty market is another reason for its increasing gender neutrality. Many of these organizations believe in the equal opportunity principle which is providing women with better avenues of growth.
While very few women have found their way to the board of directors and other leadership positions in the sector, it is a matter of time before the traditional family-owned businesses start paving way for the women from within the family and outside to join the upper management.
They cannot continue to ignore the additional negotiation abilities of women. Discounting women could offer an undue advantage to their competitors. Propelling the real estate sector to greater heights is not possible if it continues to ignore half of the talent pool available. The need of the hour is to make realty more accommodative towards women employees.
The author is Bani G. Anand, National Convenor - CREDAI Women’s Wing
