Heading back to school to open up our ‘secret sector’

COMMENT Real estate in the UK is often described as a “secret sector” – an industry that is invisible and almost impossible to access unless you know someone already working in it. The result is a distinct lack of diversity, which is now being addressed as part of sincere efforts by some of the biggest names in the business. Equality, diversity and inclusion is a major challenge, and an important part of the wider ESG agenda. As one of the world’s most important industries, and one with such a significant impact on society, we need to ensure that organisations operating in the built environment have a workforce that reflects and represents the communities we are a part of. Although there is a huge appetite to bring in new talent from a wider range of experiences and backgrounds, the challenge is how firms practically go about attracting more diverse candidates and building a more inclusive talent pipeline. City planners In all my years working in the real estate industry, one of the most effective initiatives starting to drive change is UrbanPlan by the Urban Land Institute. This school-based programme brings our industry to life for young people through an interactive workshop. Students taking part are grouped into teams and compete to design a hypothetical city of the future while overcoming a series of real-world financial, social and political challenges. Their ideas are then pitched to a panel of expert volunteers from across the built environment, who offer advice, share feedback and, at the end of a fun and rewarding day, choose a winning team. Since its inception in 2015, UrbanPlan has reached more than 5,000 young people aged between 15 and 18 in schools across the UK, with more than 400 industry volunteers taking part around the country – all delivered to schools free of charge, paid for by industry sponsors. By targeting schools in less advantaged areas and engaging with students from a wide range of social and economic backgrounds, UrbanPlan is helping to inspire young people to consider a career in real estate. The initiative is a window into the world of property for young people who are very unlikely to have previously considered a career in the industry, offering insight into the huge variety of roles available – from planners and developers to lawyers, architects and designers. And it’s not only young people who benefit by taking part. By volunteering to participate in workshops, organisations are connecting their people with a socially responsible activity that is directly linked to their profession and our industry. This, in turn, is a great learning experience for them, and one from which they often return to the office feeling engaged, inspired and committed to creating social impact in their own work. UrbanPlan also offers companies a practical, innovative and scalable way to engage with schools and young people in the communities in which they are investing.  These benefits aside, it’s the interaction between young people and the industry volunteers that never fails to amaze me. From working together as a team to pitching to a professional audience – which is a very big deal, and a life-changing moment for some – the energy in the room is always incredible and really must be seen to be believed.  That’s why I’ve backed UrbanPlan from the beginning. At Orion, a pan-European private equity firm, we are committed to working on best-in-class real estate projects that create social and environmental value – and UrbanPlan provides us with a tangible example of what meaningful social impact looks like. But you don’t need to take my word for it, the data on UrbanPlan speaks for itself: more than 93% of participating students said the initiative helped them understand how the property industry works, while 88% said it gave them insight into possible industry careers. Interns and apprentices So we know the UrbanPlan formula works, and we now want to reach many more young people. That is why I am inviting the industry to get involved. UrbanPlan is expanding so there will be plenty of opportunities to participate in 2023. As well as reaching higher numbers of schools, we are also looking to target locations and communities which would otherwise be hard for the property industry to reach.  We will soon be providing online programmes to follow on from the in-school workshops, and are currently working with a number of leading real estate firms to offer internships and apprenticeships to help students maintain links with our sector.    As we all work hard to improve EDI within our organisations, UrbanPlan represents a rare combination – nurturing talent from a wide spectrum of backgrounds and enabling firms to offer up time and financial support to social impact activities, while opening up our “secret sector” and working together to build a more inclusive industry. Van Stults is founding partner of Orion Capital Managers