CBRE reinforces commitment to diversity and inclusion agenda
CBRE has published its 2018 gender pay gap report, which shows that CBRE’s UK business (All Entities) had a mean (average) gender pay gap of 18.62% and a median (mid-point) gender pay gap of 15.09%.
CBRE’s gender pay gap is due to 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.
Its median pay gap increased from its 2017 figure of 12.22% due to several factors, including the payment of several Long-Term Incentive Payments (LTIP) following previous mergers and acquisitions. In addition, 60% of CBRE’s GWS workforce has transferred to the company through mergers, acquisitions and contract wins, resulting in an ‘inherited’ pay gap.
Across the business CBRE has improved the percentages of female representation in the upper and upper middle pay quartiles. CBRE has also achieved:
- 50:50 gender split in CBRE’s graduate and apprenticeship intake across many parts of the business
- Named as one of Fortune’s Best Workplaces for Diversity in the US – the only commercial real estate company to be included
- The first real estate advisory firm to achieve EY’s UK National Equality Standard accreditation
- Flexible working practices and policies are creating more opportunities to recruit and retain a diverse range of talent
Over the past year, CBRE has continued to deliver on its programmes aimed at improving female retention and career progression. Key initiatives include:
- Award winning Women’s Network providing extensive mentoring and networking opportunities
- Talent programmes focused on the development and advancement of employees
- 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 supplier code of conduct which outlines how CBRE works with clients and suppliers to share best practice on D&I and encourages them to develop their own D&I strategies
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, Daisy Chain and Talking Talent to improve the recruitment, retention and advancement for women in the property industry.
Improving gender balance and diversity at all levels across the sector remains a key priority for us. Our focus on targeted actions around female retention and career progression is having a positive impact. However, we know there is more to be done and meaningful and sustained change will take time.
To view the report click here: https://www.cbre.co.uk/about-cbre/our-policies/gender-pay-gap-report