EG meets… Oona Collins

Oona Collins, a business and leadership consultant and chief executive of Potential Plus International discusses her work with C-suite directors and leadership teams from across the property sector. If you meet someone at a dinner party and they ask what you do, how do you describe your work? I work with leaders and teams who want to be the best they can be. I run a leadership development consultancy that specialises in the property industry, because I worked in that industry for 15 years in the UK and Asia. I also work with leaders in insurance, banking and media, but approximately 50% of my clients are in the property world. How do the leaders in real estate compare with those in other sectors? Property leaders principally have an entrepreneurial mindset. They are experts in their field and they know their market. That appeals to me because I come from an entrepreneurial family. One thing I’ve noticed when I’m comparing it with clients in other sectors, even though it’s progressing, there’s still a lack of female representation at the top level. The property industry is getting better, but it’s still lower. There is a widespread commitment to equality, diversity and inclusion across real estate, but how important is it that that commitment is demonstrated actively at boardroom level? I think it’s key. When I think of diversity, I think of diverse thinking. If you’ve got a room full of people who are the same as you, it’s going to limit the conversation and the decisions made. Whether that’s age, gender, ethnicity, whatever – you have to have that at boardroom level, because otherwise you won’t come up with new ideas. Achieving a more diverse boardroom starts internally. I’ve seen examples where a lot is happening at mid-to-lower tiers but if the top level isn’t practising this, those initiatives can fall on deaf ears. It’s about practising what you preach. It starts with who you have in your business, identifying the emerging leaders, and inviting them to some of the boardroom discussions. At one of my clients, every member of their executive committee is mentoring a Gen Z colleague. They want to stay close to that perspective, because they recognise it’s the future of the business. When it comes to a lack of women at elevated levels, how should we be tackling that problem? If you want to get women to senior level, you need to look at the learning they’re getting that is relevant to general management. Such as financial acumen, etc. How to increase your profile internally and externally also needs to be taught at a very early level. Mentoring plays a huge role. I’m a member of the Mentoring Circle, which is for junior women in real estate, and I hear their stories about the value that has. I also think that when women have career breaks, little things like keep-in-touch days could be more structured. For example, are there any critical stakeholders who have joined the business that they need to meet? From the businesses I am working with, I’m seeing more people thinking about the incentives and policies they can put in place that makes returning to work easier. This ranges from having support systems to providing childcare solutions. Another important aspect that you advise businesses on is succession planning. How effectively is that being done in real estate? It’s becoming a priority for most of the businesses I work with. The biggest issue at the moment is retaining and attracting good staff. When you lose someone valued by the business, trying to find a replacement is harder than ever. People are now looking at emerging leaders. I’ve done a number of programmes with emerging leaders who are being seen as the future – they appreciate the fact they have been chosen and that helps them feel committed to a company. This is also derisking a business, because every significant role should have a successor. Not to have one is a high risk. When you are impressed by a leader what are the qualities they tend to exhibit? First of all, they need to have a clear vision. When there’s a lot of change, it can bring uncertainty, so you want someone with clarity about the ambitions of the business. They are good communicators. They have a resilience mindset and they invest time in their people. I know everyone says this, but doing it is another thing. Employees see the value of that. Good leaders are authentic, and they usually enjoy what they do. They get a buzz out of it. When you’re good at what you do, you tend to enjoy it. Do you ever make reference in your work to famous leaders in other fields? I often relate to sport because I have a sporting background. I talk about sport in terms of personal bests and being your best self. When I watched the men’s football world cup final last year, both the Argentinian and French teams were being driven through the match by two remarkable leaders, Lionel Messi and Kylian Mbappé. I was inspired by American gymnast Simone Biles. It takes courage and self-awareness to realise you need to take time out. To come back and win championships after a two-year break shows incredible strength. Now we have to ask about your sporting background When I was in Sydney, I used to train marathon runners and triathletes. Like in business, everything is about mindset. And in both you have milestones. If you’re going too fast, you may not finish. You have to think about all of the milestones to get you to your end game. It is important to remember that you also need to rest and recover in order to be your personal best. To send feedback, e-mail jess.harrold@eg.co.uk or tweet @EGPropertyNews