Author: Women in Retirement Living (WiRL)
Women in Retirement Living (WiRL) exists to empower women (and other underrepresented groups) in the retirement living sector aiming to bridge the gaps in gender inequality, equity, diversity, and inclusion, fostering the best and most diverse talent enabling the growth of the sector.
We know that women are underrepresented in parts of the sector (or in some roles, overrepresented) and continue to be significantly disadvantaged in career advancement amongst others and while some progress has been made, we still need a means to connect women (and other underrepresented groups) to opportunities and expertise that empower and elevate women collectively within the sector.
What's the problem?
Firstly, let’s be clear…the issues do not only affect women in the retirement living sector!
- Women founders in the UK receive a tiny share of venture capital with just 2% of UK VC funding went to all-women founding teams, and only 15% went to teams with at least one woman.
- UK women continue to earn less than men across nearly all sectors where the UK’s gender pay gap was 14.3% in 2023
- Fewer women reach top-level roles in UK businesses and as of 2024, only 10% of the FTSE 100 CEOs were women.
- Women are less likely to have influential sponsors in male-dominated UK industries like tech, finance, and politics which limits access to informal opportunities, strategic roles, and board appointments.
And on …and on…
We think the retirement living sector is at a pivotal moment and the question of leadership representation becomes ever more prescient and represents a potential missed opportunity for more effective, inclusive, and forward-thinking leadership.
Persistent barriers to women's leadership
Within the real estate sector, leadership roles have often been filled through informal networks and legacy succession that favours male candidates and despite increasing numbers of women entering the sectors the “leaky pipeline” effect persists with many women failings to progress into senior roles where barriers include:
- Unconscious bias in hiring and promotion
- Lack of female mentors and role models
- Limited representation on boards and in decision-making forums
In the retirement living sector the lack of female voices in leadership is particularly ironic given that women make up the majority of residents and the vast majority of front-line workers.
Gender equity in Leadership wins
Improving gender diversity in leadership is not simply a matter of fairness. We think it has implications for business performance, innovation, and social impact all of which we need in the RL sector to grow.
1. Improved management and organisational performance
Research consistently shows that companies with gender-diverse leadership are more likely to outperform peers on profitability and productivity with one piece suggesting a 3% better IRR performance. Women leaders often bring a more collaborative and empathetic management styles, which are especially well-suited to the complex world of retirement living which relies heavily on trust, care, and engagement.
2. Enhanced customer satisfaction and resident centred design
The retirement housing customer base is predominantly women, yet their lived experience is rarely reflected in strategic decision-making. Having more women in leadership roles can help create more empathetic housing models and are seen as more likely to champion inclusive design and service models that prioritise autonomy.
3. Improved sustainability and ESG performance
Sustainability is increasingly central to the value proposition of retirement living from energy-efficient buildings to community cohesion and environmental stewardship and studies suggest that women in leadership tend to prioritise long-term environmental, social, and governance (ESG) factors.
4. Talent attraction and retention
The wider property sector faces a growing skills gap, particularly as it competes with other sectors for top talent and companies with visible gender equity in leadership will be more attractive to emerging talent and a workplace culture where women are supported, mentored, and promoted is one that is likely to be more innovative, flexible, and resilient.
So, what needs to change?
To unlock the full value of increasing women’s leadership…
- Invest in leadership development programs for women at mid-career level to close the progression gap.
- Encourage senior leaders to mentor and sponsor women across the organisation.
- Support part time, job sharing, or hybrid arrangements that are compatible with caregiving responsibilities.
- Ensure that recruiters and selection processes are accountable for producing diverse shortlists.
- Promote inclusive leadership training and embed diversity metrics into organisational KPIs and board reporting.
Improving the representation and equity of women in leadership across the retirement sectors is not just a matter of image, it enables better management, delivers homes that truly meet residents’ needs, enhances sustainability performance, and makes the sector more appealing to the next generation of talent.
For an sector focused on community, empathy and care, isn’t it time that the people leading it better reflect the people it serves? www.wirl.uk
https://www.linkedin.com/company/wirl-women-in-retirement-living/
