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Benett Theseira Appointed as Chair of ULI Singapore
Benett Theseira, managing director at PGIM Real Estate and head of Asia Pacific has been appointed chair of ULI Singapore.
WLI Championing Change
27 July 2021
Women’s Leadership Initiative (WLI) has been established since 2011 under Urban Land Institute and through empowerment and stakeholder engagement, WLI strives to achieve four primary objectives.
- To promote the advancement of women throughout their careers as leaders in real estate
- To increase the number of women serving in leadership positions
- To increase the visibility of women leaders
- To increase the number of women who are active ULI full members and support the development of young women members as leaders of ULI and the real estate industry
In the first series of WLI Singapore: Championing Change, moderator Tang Wei Leng, Managing Director Singapore of Colliers and WLI Singapore Co-chair, shares that research has shown the commitment from senior leadership is the most significant driver of Diversity, Equity, and Inclusion (DEI) outcome in the workplace.
Clockwise from top left: Tang Wei Leng, Kwek Eik Sheng and Benett Theseira
To improve gender equality within the company, Kwek Eik Sheng, Group Chief Strategy Officer of City Developments Limited (CDL), emphasises the importance of having women in leadership positions within the organisation. With female leaders, it signals that the organisation tends to be more inclusive and female-friendly, thus encouraging more female employees to join the organisation or real estate industry. In addition, to attract and retain employees in the industry and company, CDL has also come up with numerous initiatives such as flexible working hours and family care leave, allowing their employees to take time off to manage their personal responsibilities.
Benett Theseira, Managing Director and Head of Asia Pacific at PGIM Real Estate, highlights the importance in getting a diverse and balanced pool of candidates at the recruitment stage. Organisations should focus on the quality of candidates and avoid a situation of hiring women to meet quota even if they are not the best candidate for the job. This act of tokenism may diminish the profile and image of women within the organisation.
Theseira further explains the benefits of a gender balance organisation. With diversity within the team, this will bring about different perspectives and hence result in better decision-making. An organisation that practices and values diversity may also find it easier to hire and retain talents. There are also intangible benefits associated with a diverse team that is related to the sustainability and performance of the organisation, which can possibly be measured through employee engagement surveys. While having an ideal gender ratio of 50-50 is desirable, Theseira shares that the benefits of a gender diverse workforce is evident even if organisations have a range of 35-40% of female employees.
For organisations that are just starting to embark on the journey of gender diversity, Bennett advised on the need to have a policy and plan to encourage and promote diversity. Organisations need to provide a comfortable and supportive environment, identifying and providing capable women with the necessary tools and training to help them to take on new roles that help in career progression. Kwek further chimed in on how companies can reach out and tap into existing networks, partners and stakeholders to build an empowered community. An example he raised is the “Women for Green” initiative that is set up by CDL. This initiative serves as a platform to catalyse women to come together to work towards a sustainable future and at the same time creating awareness and empowering women.
Being an advocate of gender balance as part of ULI’s dedication for DEI, WLI Singapore has drafted a Champions of Change pledge to rally its members to show their commitment to influence positive change. The WLI Singapore Steering Committee sought inputs from the audience about the draft pledge.
The audience commented on the importance of commitment from the senior leadership to drive gender balance and DEI in the workplace. In addition, emphasis was also given on the need to provide support and training to empower women, instilling confidence within women to take up opportunities when available. That being said, not all policies have to be pro-women and at the end of the day, it is necessary to strike a right balance to achieve DEI. Being future leaders of the real estate industry, younger generations who are more accustomed to the notion of gender balance will also be propagating DEI as future champions of change.
The goal to achieve gender balance is still a journey and work in progress in many organisations. With the rise in appreciation for DEI and the ongoing training to create the awareness of unconscious bias, WLI Singapore hopes that the real estate industry will not be perceived as a male-dominated one.