Why disruptive thinkers are embracing diversity

Why disruptive thinkers are embracing diversityIt’s up to each of us to question gender roles, call out unconscious bias and establish new norms, says the Property Male Champions of Change special adviser, Carmel Hourigan.As global head of real estate with AMP Capital, Hourigan (pictured) is responsible for a $23.7 billion property investment portfolio and a team of nearly 0 staff. But like so many women, Hourigan fell into property by accident.Her early desire to be a doctor evolved into a passion for economics, before her father, who lectured at university, encouraged her to take up a course in real estate valuation.”When my father suggested I consider real estate, I didn’t know what that meant. I didn’t know any women working in the industry and I saw real estate as a residential agency opportunity,” she says.She was one of a handful of women in her course, and since then has grown accustomed to male-dominated workplaces. “But I’ve definitely seen massive change during my career – and a lot of that change has occurred in the last five years.”After completing a Bachelor of Business, Hourigan embarked on a career that has seen her work with the biggest names in the business, including Stockland, Lendlease, Colonial First State and The GPT Group.Hourigan is a director on the Property Council national board and a special adviser in the Property Male Champions of Change. She is enthusiastic about the “practical change” the group of 21 industry leaders is driving within the property sector, particularly around gender pay equity, flexible work practices and growing the talent pool.”We’ve demonstrated what a sector-specific group can do. When we have the same talent pool and the same types of investments, we can make changes happen quickly,” she says.”I’ve sat in meetings and seen all members commit to implementing practical change. While some are ahead of others, everyone is listening, taking note of what others are doing and trying to improve their established practices.”Last week, the Property Male Champions of Change released its progress report, which underscores its impact. Each of the 21 organisations now offers formal flexible work policies or strategies, up from 74 per cent the previous year. Seventy-five per cent of organisations have conducted pay equity reviews in the last 24 months, and three quarters achieved or made progress towards gender balance across key management personnel.The work on flexibility is particularly close to Hourigan’s heart. Her husband recently decided to take a break from his career to look after their two daughters, and Hourigan says she has been surprised by the reactions of some men, and even more, women.”I think there’s a shift in thinking required for everyone, and women have a lot to learn about supporting men who decide to stay at home too.” This is about questioning gender roles, examining unconscious bias and establishing new norms, she says. “And we all have a responsibility to do that, because our children are listening.”The 40:40:20 project – which spilled all Property Council committees and set new diversity targets – is another game-changing initiative, she says. Women now account for 43 per cent of the 1,600 committee roles, up from 29 per cent just two years ago.”If we were to point to one initiative that demonstrates how far we’ve come, it’s 40:40:20. There is no other industry that has cleared out all its committees and restructured them the way we have. The amount of talent we’ve uncovered in the process is astonishing.”The Girls in Property pilot initiative, held earlier this year in partnership with several Sydney high schools, also has the potential to expand the pipeline of talent into the industry, and address the ‘falling into property by accident’ phenomenon.”Working with young girls to influence their career choices at the earliest stages will take time, and it’s a big investment – but the right one.”Hourigan says companies need to get better at hiring on potential, and to look beyond traditional real estate backgrounds to people in other sectors, such as finance or the legal profession. “There are so many talented women in other sectors who could grow into their roles and into the industry, and we may get better outcomes for our businesses as a result.”We are in a disruptive environment, and we need disruptive leaders and thinking. Hiring only those with real estate backgrounds might not be the best way to get that diverse thinking. We must invest in our own talent within the industry, but complement it with other perspectives,” she says.Hourigan says her biggest career lesson has been to cultivate her own authentic leadership style. She says it’s easy for ambitious young women to “ignore discrimination and structural impediments” and to try to shape their style on the masculine status quo. “But being something you’re not is simply exhausting, and I realised that I wasn’t going to make it if I wasn’t myself. For the last five or six years I’ve said: ‘this is who I am, and I’m either going to be successful on that basis or I’m not’.”Right now, she can’t imagine working in any other industry. “I really enjoy working with investors and helping them find exciting real estate opportunities. Our industry is very collaborative and it’s small enough to run into the same people in different roles, times and decades. I like that familiarity and I’d rather be doing this than anything else.”Download the Property Male Champions of Change Progress Report 2016-17.