CBRE reduces Gender Pay Gap in 2019
CBRE has today published its 2019 Gender Pay Gap report, which shows that CBRE’s UK Business (All Entities) had a mean (average) gender pay gap of 14.67% and a median (mid-point) gender pay gap of 10.48%. This represents a year on year reduction of 3.95% and 4.61% respectively and the figures are below the UK national average of 17.3%, as reported by the ONS.
CBRE’s gender pay gap reflects the current structure of CBRE’s UK workforce, which has a greater number of men in senior positions. Whilst CBRE is taking active steps to address this imbalance, attracting women to the industry is an issue common to the wider property and professional services sectors.
Across the business, CBRE has successfully reached a number of targets to help create a more diverse workforce. These include:
- Appointed a dedicated Diversity and Inclusion Manager, focusing on the Advisory Services business to help devise a strategy to ensure that CBRE progresses in closing the gender pay gap
- Adopted a range of flexible working practices and policies to create more opportunities to recruit and retain a diverse range of talent
The progress CBRE is making is reflected in its inclusion in the Financial Times’ first ever Diversity Leaders list and becoming the first real estate advisory firm to achieve EY’s UK National Equality Standard accreditation.
Over the past year, CBRE’s Advisory Services business has continued to deliver on its programmes aimed at improving female retention and career progression to ensure the business achieves its target of having 30% of females at Director level and above by 2025.
- Award winning Women’s Network providing extensive mentoring and networking opportunities
- Coaching for women returning from maternity leave
- Swap and Share programme to EMEA, encouraging mobility across CBRE’s EMEA network
- New ‘Back to You’ returner programme to encourage talent back into the business following a career break
- New programme for women at Director level to equip them with tools, knowledge and mindsets to successfully drive their careers forward and ultimately increase balance within leadership teams
CBRE also partners with a wide range of organisations in the UK to drive forward its diversity and inclusion strategy. These include Changing the Face of Property, Real Estate Balance and Talking Talent to improve the recruitment, retention and advancement for women in the property industry.
Additionally, in 2019, CBRE Limited became one of the first Real Estate companies to sign the Business in the Community's Race at Work Charter, achieved Disability Confident Employer status and is proud to support The Social Mobility Pledge. CBRE Limited is a member of the Business Disability Forum and a Stonewall Diversity Champion.
Ciaran Bird, Divisional President, Advisory Services, CEO UK and Ireland and Ian Entwisle, CEO, GWS APAC/EMEA commented: “CBRE is committed to improving gender balance and diversity at all levels and being a driver of change across the industry as a whole. As an industry we need to accelerate the pace of change and CBRE will continue to implement programmes which will address the current gender imbalance and ensure we make a positive and sustainable impact in the long-term.”