RICS Launches Guidance on Respect, Diversity and Inclusion for 2024

On 20th February 2024, RICS published new guidance entitled, ‘Developing an Inclusive Culture’ with the aim of encouraging greater levels of diversity, equity, and inclusion (DEI) within the chartered surveyor sector and more broadly. The guidance points to a report commissioned by Deloitte Digital in 2023, which highlighted that Gen Y and Gen Z now accounts for over 60% of the workforce, and a failure to understand and adapt to their needs will result in missing out on new talent and losing existing talent. The report found that young people coming into the workforce want to see “more empathy from their bosses and more support for their mental health”. In this article, we will look at the recommendations within the new report from RICS and what organisations can do to foster greater levels of DEI.

The RICS Code of Conduct

The RICS Rules of Conduct require regulated firms and members to encourage diversity and inclusion where possible. Specifically, Rule 4 states that “Members and firms must treat others with respect and encourage diversity and inclusion” by, for example, working cooperatively with others and creating an inclusive culture.

Why Has RICS Updated Its DEI Guidance For 2024?

RICS view DEI as a top priority and has updated its DEI guidance to help RICS members and the wider profession attract and retain the best talent “regardless of gender, race, disability, neurodiversity, class or socio-economic background, religion, sexual orientation or age”. They view this as such a high priority because organisations with a diverse workforce are effective and efficient and provide a route to greater creativity and innovation.

The new guidance aims to give RICS professionals around the world the skills and knowledge they need to improve outcomes for their stakeholders and the wider public. This includes promoting ethical and professional behaviour for the public advantage. It also aims to give SMEs and sole practitioners within the sector access to specialist advice, tools, and resources to develop sustainable and up-to-date DEI practices.

New Guidance To Supplement RICS’ Conduct Rule 4

The new REI guidance published by RICS aims to support members and firms by illustrating good practice in six areas:

  1. Inclusive spaces
  2. Inclusive recruitment
  3. Inclusive policies
  4. Inclusive culture
  5. Everyday life at work
  6. Career progression

Given that RICS members range from sole practitioners right up to international organisations with thousands of staff members, the DEI guidance includes a specific set of actions for firms of different scales.

If you are sole practitioners, RICS recommends that you:

  • Reflect on how you can make your office more accessible for clients.
  • Include different perspectives in event planning to ensure that all spaces, both online and offline, are accessible and welcoming.
  • If you’re involved in speaking events, enquire about inclusion: Is the panel diverse? Is the venue accessible?
  • Make your website and communications easy to access for all potential clients.
  • If you offer work experience, consider providing opportunities to individuals from various backgrounds.
  • When you’re around others, call out behaviour that excludes people.
  • Look for ways to diversify your supply chain and support businesses owned by minorities.

If you are a smaller firm with employers, RICS recommends that you:

  • Reflect on your recruitment methods to reach a broader talent pool, and evaluate where and how you advertise.
  • Craft job descriptions and adverts that promote inclusivity.
  • Consider flexible work options to attract and retain a wider range of talent.
  • Implement policies addressing acceptable behaviour, parental leave, caregiving, adjustments, and well-being.
  • Develop standardised onboarding procedures.
  • Review how you evaluate and reward performance to ensure it doesn’t exclude anyone.
  • Gather feedback from your team about your company’s culture and your leadership behaviour.
  • Plan staff events that everyone can attend and enjoy.

And for large firms, RICS recommends that you:

  • Encourage leaders to greet new employees with an email highlighting the behaviours that you value.
  • Think about reverse mentoring or coaching.
  • Explore how to remove bias in hiring through structured interviews and diverse hiring panels.
  • Gather data on your workforce’s diversity and use it to guide your DEI efforts.
  • Publish appropriate diversity data and make commitments using recognised accreditations.
  • Back employee groups that aid different communities.
  • Train staff on your policies and inclusive practices.

For more details on the specifics of the new DEI guidance for each of the six focus areas, we recommend reviewing the individual guides published by RICS.

Final Words

As the new RICS guidance explains, a lack of diversity in business, especially in leadership roles, can lead to a “homogeneous and insular working environment where ‘group think’ stifles creativity and innovation”. It also points out that without diverse perspectives, “organisations may struggle to adapt to our increasingly dynamic and multicultural world”. The new guidance is a timely reminder that diversity, ethics and inclusion play a role in successful and well-run organisations and that adherence to these professional standards is a core requirement for RICS membership.

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