In an interview with All Things Talent, Rohit Hasteer, CHRO at REA India, shed light on the organisation’s strategic approach to talent growth, at the centre of which is a comprehensive HR framework based on attracting, engaging, developing, and retaining top talent.
Could you please shed some light on REA India's business and talent growth in India?
REA India (Housing.com, PropTiger.com, and Makaan.com), stands out as the only entity in India's real estate domain, offering a comprehensive suite of services across the entire home-seeking journey. Our array of solutions encompasses various stages, from the initial search and discovery phase to financing and final transaction closure.
Playing by our strengths and building on our development areas have been pivotal in maintaining our relevance, and competitiveness in the ever-evolving real estate landscape. Furthermore, our strategic business partnerships, such as the recent collaboration with Easiloan, underscore our commitment to market leadership. The ambition to create India's largest home loan origination platform reflects our drive to revolutionize the real estate sector through strategic alliances with dynamic startups. In terms of market share, our focus extends beyond traditional metrics. We are expanding our reach with a thoughtful blend of technology, partnerships, and customer-centric initiatives.
Over the past decade, REA India has experienced exponential growth, expanding its workforce to over 1600 employees nationwide and establishing 20+ offices across the country. This significant surge in headcount, which has quadrupled in the last 10 years, was driven by strategic acquisitions and a deliberate expansion strategy aimed at strengthening the company's presence in various regions. The increased demand for talent prompted a comprehensive re-evaluation and reinforcement of our HR framework, focusing on 4 fundamental pillars of our people strategy: Attract, Engage, Develop, and Retain. Recognizing the critical need for the right talent to drive our business objectives forward, we implemented targeted processes and initiatives to create a highly skilled and motivated team delivering the best property experience to consumers.
In our quest for talent, we seek individuals who resonate with our organizational values and our EVP, "Come Home". This proposition is a philosophy that defines our culture. It embodies the sense of belonging, learning, and growth that we offer to our people, making us a workplace where individuals thrive both personally and professionally.
Our journey involves a strategic blend of business expansion and onboarding the right talent, underpinned by a commitment to diversity. Our commitment to gender balance aligns with our belief that diverse teams drive innovation, and we see this as a crucial component of our sustainable growth. Embracing the industry first hybrid work policy has been a game-changer in our talent strategy. It empowers us to tap into a diverse pool of talent regardless of geographical constraints. This flexibility aligns with contemporary work preferences and reinforces our commitment to providing an inclusive and adaptable work environment, a key element of our EVP - “Come Home”.
As per a joint report by Naredco Mahi and JLL report, women make up for only 12% of the real estate workforce in India. What do you think is the challenge the sector is facing in recruiting women?
The real estate sector, often perceived as conventional and saturated with traditional practices, has grappled with preconceived notions about gender roles. This mindset, combined with the historically male-centric narrative associated with the industry may dissuade women from considering real estate as a viable career option. Navigating through these challenges might not align with some women's preferred working styles. Additionally, the absence of prominent female figures or role models in real estate leadership positions may contribute to the perception that women might not have equal opportunities for growth and success in this sector.
Firstly, breaking down stereotypes and fostering a culture of inclusivity is essential. The real estate industry, including both developers and PropTech organizations, needs to actively challenge and transform its image to be more welcoming to diverse talent. Highlighting success stories of women colleagues can serve as powerful narratives to inspire and encourage prospective female professionals. Housing.com, through one of its campaigns, ‘ghar dhoondhna koi inse seekhe’, puts a huge emphasis on a woman’s capabilities and contribution in the home-buying journey. Similarly, the value that women in PropTech business add to developing a product & services that simplifies this journey is immense.
Additionally, creating targeted initiatives such as sensitization programs, special hiring interventions, and capability building programs can help bridge the gender gap. These initiatives not only empower women professionals but also serve as catalysts for changing the prevailing mindset within the industry. Highlighting women-centric policies that focus on work-life balance, such as flexible working hours, remote work options, specialized wellness programs, access to healthcare resources and supportive maternity or childcare policies, is pivotal.
At REA India, we actively seek to debunk the traditional notions associated with the real estate sector, positioning ourselves as an inclusive space where talent, irrespective of gender, can thrive.
What are some of the key gender diversity initiatives REA has in place? What is your key objective in rolling out these initiatives?
At REA India, fostering gender diversity is an integral part of our organizational ethos. Here are some of our key gender diversity initiatives:
- EmpowHER: This hiring initiative is specifically tailored to bring more women in our Product team, creating opportunities for diverse groups such as fresh talent, individuals seeking re-entry after employment gaps, and women aspiring to pivot from various professional backgrounds into Product Management roles. Our goal is to create a space where varied experiences and perspectives enrich our Product team, driving innovation and excellence.
- Learning Program on Principles of DE&I: An online DE&I program on our LMS was initiated to enhance participants' understanding of the significance of DE&I in the current context.
- DE&I Sensitization Workshops: We conducted gender sensitization workshops exclusively for our people managers. These workshops, attended by over 250 managers, aimed to drive real change in managerial perspectives and actions.
- InspiHER: To empower women leaders and equip them with the tools needed for intentional career progression, we introduced the "InspiHER" program. This facilitator-led initiative spans three months and involves women leaders from various functions.
- Unconscious Bias Training: An e-learning program for all our people on our in house LMS. This program served as an ideal point for initiating discussions around the common biases experienced by diverse groups of people in Indian workplaces.
- Equal Opportunity Commitment (EOC): We updated our EOC statement and incorporated it into our job descriptions. This explicit commitment underscores our dedication to treating everyone equally, regardless of their background, culture, or identity.
- E-Appreciation Cards Redesign: Taking inspiration from valuable suggestions of our people, we redesigned our e-appreciation cards to be gender-neutral.
- Ensuring Access to Sanitary Products: We have placed sanitary vending machines at our offices to ensure easy access to pads for our women colleagues. For the rest of our offices, where we operate from co-working spaces, we have placed a sanitary box for women to use, which is placed safely with the Admin/HR SPOC or the women colleagues in the branch.
- PowHER to Change: Launched a perception survey exclusively for our women colleagues to gauge their sentiments around improving diversity & Inclusion in the organization and creating a conducive environment for their well-being & progress.
Beyond the aforementioned practices, we've implemented additional measures to foster a supportive work environment for our female colleagues at REA India.
Our hiring ethos prioritizes cultural alignment, valuing talent without being constrained by industry, experience, gender, or race. We ensure competitive and fair compensation, adhering to industry benchmarks, and uphold pay equity for women, underscoring our commitment to equal opportunities.
Our Sexual Harassment Prevention Policy extends protection equitably to both men and women, transcending statutory norms. We offer fully paid Maternity Leave and support extended periods or flexible work arrangements post-maternity leave, promoting a conducive environment for new mothers. Moreover, we provide financial aid (Childcare Allowance) for mothers returning from Maternity Leave until their child reaches 3 years of age. This also applies to mothers who join the organization and have kids below 3 years of age.
Embracing flexibility, around 58% of our female colleagues currently benefit from remote or hybrid work setups, effectively managing their professional and personal commitments.
Question: The DEI goals at REA are part of OKRs and KRAs of senior leaders at REA. How will such an inclusion augment your DEI goals this year? Please share some instances where this initiative helped your employees and business functions.
Integrating DE&I goals into our OKRs and KRAs of Senior Leaders at REA has been a pivotal step in advancing our commitment to gender diversity and creating an inclusive workplace. It has helped with:
- Fostering Accountability and Alignment: By aligning DE&I goals with our OKRs, every department and team within the organization is accountable for contributing to and advancing our diversity and inclusion objectives. This alignment ensures that DE&I is not perceived as an isolated effort but as a collective responsibility woven into the fabric of our organizational priorities.
- Strategic Business Impact: DE&I is not just a social responsibility; it's a strategic imperative. By integrating DE&I goals into our OKRs, we acknowledge that diversity contributes to innovation, better decision-making, and improved business performance. For example, diverse teams bring varied perspectives, leading to more comprehensive problem-solving and creative solutions.
- Attracting Diverse Talent: A commitment to DE&I articulated through OKRs enhances our employer brand, making us more attractive to diverse talent. Prospective candidates are increasingly looking for organizations with genuine inclusivity efforts, and the integration of DE&I into our strategic goals signals our dedication to fostering a diverse workforce. In the past year, we have achieved 21% increase in the representation of women employees, a testament to our concerted efforts to foster an inclusive workplace.
- Employee Engagement: Our DE&I goals, deeply integrated into OKRs, have driven initiatives that enhance employee engagement. For example, inclusivity-focused training programs have not only educated our people but also helped in fostering a sense of belonging, positively impacting morale and collaboration. We have been featured in Top 50 Best Workplaces™ for Women in India in 2023 and 2021 and in Top 75 in the year 2019 by Great Place to Work® Institute (India).
- Measurable Impact: The nature of OKRs and KRAs allows us to set measurable objectives and key results, providing a tangible way to track progress. This ensures that our DE&I initiatives are not just aspirational but have quantifiable outcomes. For instance, we measure the increase / decrease in gender diversity under the span of each leadership team member which help everyone to stay updated on the numbers and deploy course correction measure whenever required.
Every organization has ramped up their DEI goals this year in terms of recruiting new talent. How do you think it has altered talent acquisition in the real estate sector? How has REA made changes to its hiring parameters to ensure quality women hire?
Consulting firm Primus Partners and World Trade Center released a report titled 'Pink Collar Skilling: Unleashing the Women's Power in the Real Estate Sector.' The report states that in the domestic construction and real estate sector, employing 57 million workers, 50 million are men, and only 7 million are women. Furthermore, the report highlights that India has only 2%of women executives in construction companies, compared to the UK's 14% and the US's 7%. The report classifies the real estate sector workforce into four levels: leadership, technical, semi-skilled, and unskilled labour. Shockingly, only 1 to 2% of women reach top-level positions. To achieve a $5 trillion economy, India needs to actively include more of its underrepresented women workforce.
At REA, this shift has been a strategic imperative, influencing our hiring parameters and practices.
- Elimination of Bias: In line with our commitment to gender diversity, we have developed comprehensive gender-neutral hiring guidelines. These guidelines serve as a tool for our Talent Acquisition Team & Hiring Managers, guiding them to eliminate unconscious biases and make conscious, inclusive choices during the hiring process. The aim is to ensure that the best talent is identified and selected based on merit, skills, and potential, rather than gender-related assumptions.
- Inclusive Hiring Practices: We have consciously integrated inclusive hiring practices that go beyond conventional parameters. By reevaluating job descriptions, removing gender-coded language, and emphasizing the importance of diverse perspectives, we create an environment where all individuals, irrespective of gender, feel encouraged to apply and contribute.
- OPQ 32 Assessment: To further enhance our hiring precision, we incorporate the OPQ 32 assessment. This tool adds layer of objectivity, helping us evaluate candidates based on their behavioural strengths and suitability for the role. The assessment is designed to ensure that hiring decisions are rooted in a holistic understanding of the candidate's capabilities and potential, contributing to a more diverse and high-performing team.
- Partnerships and Collaborations: We explore strategic partnerships and collaborations with educational institutions, professional organizations, NGOs, and platforms that focus on women's empowerment in real estate.
Please elaborate on the EmpowHER program. How has it performed? What kind of learnings did you have while carrying out this program? Did any of these observations lead to any modification to the program in its 2.0 version?
EmpowHER, our flagship program is designed to enhance gender diversity within the organization. The program, launched as a pilot for our Product team, aimed at providing a supportive platform for women seeking to build or restart their careers in the challenging domain of Product Development.
Performance and Impact:
EmpowHER successfully brought on board highly talented women for our Product team in December 2022. These individuals, hailing from diverse backgrounds, have seamlessly integrated into their roles and actively contributed to specialized projects. The mentorship and support provided to them have been instrumental in their professional growth, and their engagement is a testament to the program's effectiveness.
Key Learnings:
While implementing EmpowHER, several key learnings emerged, offering valuable insights for refinement and enhancement:
- Diverse Skill Sets: The applicants brought diverse skill sets and aspirations. The program was open for returning professionals looking to re-enter the workforce and/or fresh graduates eager to kickstart their careers. This diversity highlighted the need for flexible structures to cater to varied career stages.
- Project Alignment: Customizing projects based on individual strengths and interests significantly contributed to the success of the program. Recognizing the importance of tailored opportunities, we understood the value of aligning projects with the unique capabilities of each participant.
- Mentorship Importance: The mentorship component emerged as a cornerstone of success. The support provided by mentors played a pivotal role in the interns' adaptation, skill development, and overall experience.
EmpowHER Second edition will not only focus on Product Management but will extend opportunities to areas such as Product Analytics and Operations. This expansion ensures a broader exposure for candidates, catering to diverse skill sets and career preferences.
Recognizing the potential of EmpowHER participants, our goal for the second edition is to offer more conversions from internship to Full-Time Employment (FTE) based on internee performance and business requirements. For the first edition of EmpowHER, 50% of the interns were converted to FTE roles. This aligns with our commitment to nurturing long-term associations and fostering career growth.
What do you think the future holds for the Real Estate sector in terms of more participation of women in the workforce?
The future of the Indian Real Estate sector holds immense promise for increased participation of women in the workforce, marking a significant shift towards gender inclusivity. While the sector has traditionally been perceived as male-dominated, several factors are poised to reshape this landscape and foster greater gender diversity.
- Evolving Industry Perceptions:
The real estate sector is undergoing a paradigm shift in its approach to diversity and inclusion. Organizations are recognizing the value that diverse perspectives bring to the table, driving innovation and enhancing overall business performance. As this mindset permeates the industry, stereotypes, and preconceived notions about gender roles in real estate are gradually eroding.
- Rise of Proptech and Hybrid Work Models:
The emergence of Proptech, including organizations like ours, has brought about a transformation in the way the real estate sector operates. Technology-driven platforms and digital solutions are breaking down traditional barriers, making the industry more accessible to talent irrespective of gender. Additionally, the adoption of hybrid work models provides women with greater flexibility, enabling them to participate in the workforce while balancing personal and professional commitments.
- Talent Acquisition Redefined:
In response to the changing dynamics, talent acquisition strategies are being redefined to attract a diverse pool of candidates. Organizations are increasingly recognizing that fostering an inclusive workplace is not just a moral imperative but also a strategic advantage. By tapping into the entire talent pool, the real estate sector can harness the full spectrum of skills and creativity, enhancing its competitiveness in the market.
- Commitment to Gender Diversity Initiatives: The commitment of organizations to gender diversity initiatives plays a pivotal role in shaping the future of the sector. As these initiatives gain momentum, they contribute to creating an environment where women feel valued, supported, and able to thrive professionally.
- Collaborative Industry Efforts: Industry collaborations, forums, and partnerships play a crucial role in driving systemic change. The real estate sector can benefit significantly from shared insights, best practices, and collaborative efforts aimed at promoting gender diversity. These collective initiatives create a ripple effect, influencing the entire ecosystem and encouraging a culture of inclusivity.
As organizations continue to champion diversity and inclusion, leverage technology, and redefine their approaches to talent management, we can anticipate a more vibrant, dynamic, and equitable industry.
About Author: Rohit Hasteer serves as the CHRO at REA India (Housing.com, PropTiger.com, and Makaan.com.). With nearly two decades of experience across diverse sectors, including stints at UTi WorldWide, MakeMyTrip, Aviva Life Insurance and Citifinancial Consumer Finance India Ltd, he has a penchant for building high-performing teams and cultivating highly engaged cultures.