Global Performance Report 2018-19
Q1
rics.org
Introduction Reflecting the strategic direction we are taking, and the expectations placed on us, we continue to deliver on our ambitious vision set out by Governing Council: Through our credential and our professional standards, we will create confidence in markets and be known for effecting positive change in the built and natural environments. We believe demand for our profession will continue to grow as the forecast pace of global urbanisation builds to 2050, coupled with an increasing and shifting population, climate change and rising pressures on food, water and energy supplies. Professionals must lead the way in addressing these trends, working to consistent technical standards and upholding the highest standards of ethics. A willing acceptance of and adherence to independent self-regulation and scrutiny distinguishes RICS and the profession around the world. Looking ahead, and on the basis of progress made this year, our business plan for 2018-21 sets four strategic priorities to position RICS as a fit, globally relevant, and trusted professional body for the 21st century: • Influential: RICS is an influential body on issues of global significance and brings about beneficial change in the world. • Trusted: the standards to which the profession work to are demanded and adopted in the major economies of the world.
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Q1 - Global Performance Report 2018-19
• In Demand: as a result of market respect and demand for our profession’s standards and qualifications, highly talented individuals will choose to qualify, commit to lifelong professionalism, and work to RICS standards.
RICS.org: The new rics.org website launched this quarter, marking the first step in an ongoing evolution of the site. The project has increased the site’s mobile functionality and refocused content towards thought leadership and standard setting.
• Sustainable: the organisation is efficient and financially stable, and the profession and RICS employees are highly engaged, proud and increasingly diverse.
This Q1 report is a summary of RICS’ worldwide performance against our objectives and strategic goals in the first quarter of the 2018/2019 financial year (August – October 2018). It is available to all members of the profession, employees and other key stakeholders.
Significant milestones in this quarter: • RICS governance reforms: RICS began its communications campaign this quarter to inform all members of the profession about the vote on Governing Council’s proposed changes to our governance. • Future of the Profession: The Governing Council-led project investigating how market developments are affecting the profession reached its first significant milestone. RICS published a summary of findings from the consultation and outlined plans to develop a second Futures report, to be published in 2020. This intensive work is helping us to better understand the market disruptions as a result of Proptech and Big Data, and guide the profession of the future accordingly.
We welcome all comments on this report.
Paul Marcuse Chairman, RICS Management Board Sean Tompkins Chief Executive Officer, RICS e contactrics@rics.org
Context To achieve Governing Council’s vision, Management Board established strategic goals for the 2017-20 business plan period.
Strategic goals • Our standards adopted The standards to which RICS professionals work are demanded and adopted in the major economies of the world. • Profession in demand As a result of market demand for RICS standards and credentials, highly talented individuals choose to qualify and work to our standards. • Trusted by our stakeholders We remain trusted to set and enforce standards for the profession. • Influential profession RICS brings about beneficial change in response to the major challenges the world faces. • Sustainable professional body The profession and RICS employees are highly engaged, proud and increasingly diverse. The organisation is efficient and financially stable.
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Key achievements this quarter A sustainable and influential 21st century body fit for the future RICS took the decision this quarter to progress with the vote on Governing Council’s proposed changes to our governance model. These changes will help RICS modernise and transform our organisation’s governance to ensure that we remain a relevant, trusted and influential professional body, fit for the future. RICS’ global ambassadors have been busy this quarter. RICS President John Hughes visited all 12 of our UK and Ireland regions to share views with over 700 professionals on how the built and natural environment is changing. They discussed the implications for client services and the skills required by professionals. These insights have informed our Governing Council’s Future of the Profession consultation which will be published widely in early 2019, along with over 350 online contributions. RICS has been prominent in speaking at significant global and regional events, emphasising the growing importance of collaboration in the built and natural environment as the industry works to respond to urbanisation. Highlights include The World Cities Summit, a biannual event organised by the Singapore Government, and Cityscape, the Middle East’s premier event for the real estate and built environment industry. In the UK we have focused our influencing effort with the Government and political parties as the UK leaves the European Union in March 2019.
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Q1 - Global Performance Report 2018-19
Trusted by clients in our key markets RICS achieved significant wins around the world in standards adoption, most notably adoptions of the RICS Red Book valuation guidance by the US Department of State and the Government of Abu Dhabi. Both these successes will drive market demand for the services of the profession. The Corporate Real Estate department of BASF’s German division has confirmed their adoption of International Property Measurement Standards (IPMS): Industrial Buildings. BASF has been keen to adopt this standard because their property portfolio is largely made up of industrial buildings. In the UK, JP Morgan Chase has confirmed its requirement that its service providers deliver valuations to our RICS Red Book standard. Also in the UK, Highways England have agreed to embed International Construction Measurement Standards (ICMS) into their processes. China Resources Land Limited, a major developer, now requires either the local Chinese qualification or the RICS qualification as part of its public procurement process on cost estimations. The Dutch Central Bank cited RICS’ commercial property market survey data to inform its latest financial stability assessment, demonstrating our growing influence in Europe.
89,689 followers on Twitter
80,872
people in the global LinkedIn group and 85,459 followers
58,388 fans on Facebook
6,148
followers on Instagram
5,124
subscribers on YouTube
108,764 RICS-qualified professionals worldwide
In the first quarter, RICS is performing to its underlying financial plan
20,383
candidates (in 120 countries) using our on-line assessment resource (ARC) to prepare for their professional assessments
626 2,538
new professionals awarded RICS designations during Q1 2018-19 (26% female) – ahead of same period last year
48%
of these newly qualified professionals are based outside the UK & Ireland, notably China (16%), East Asia (10%) and SSA (9%)
5,065
of our assessor population now using ARC (over 70% of our existing pool of assessors) – giving us their availability for assessments and carrying out those assessments
new candidate enrolments during 2018-19 (27% female) – ahead of same period last year
28%
of these newly enrolled candidates are based outside the UK & Ireland, notably MENA (8%), China (5%) and Europe (5%)
6,679 13,709 counsellors are now using ARC
supporting candidates
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Confidence through professional standards RICS promotes and enforces the highest professional qualifications and standards in the valuation, development and management of land, real estate, construction and infrastructure. Our name promises the consistent delivery of standards – bringing confidence to markets and effecting positive change in the built and natural environments.
Americas
Asia Pacific
EMEA
Latin America ricsamericalatina@rics.org
Australasia australasia@rics.org
Greater China (Shanghai) ricschina@rics.org
South Asia ricsindia@rics.org
Africa ricsafrica@rics.org
Ireland ricsireland@rics.org
North America ricsamericas@rics.org
Greater China (Hong Kong) ricshk@rics.org
Japan ricsjapan@rics.org
Southeast Asia sea@rics.org
Europe ricseurope@rics.org
Middle East ricsmiddleeast@rics.org
United Kingdom RICS HQ contactrics@rics.org
rics.org NOV2018/DML/23257/GLOBAL