We are closely monitoring developments and following official advice on the global COVID-19 outbreak.
Below is the latest information and guidance on how we are responding globally to ensure we continue to support the profession during this challenging time.
Frequently Asked Questions
We've answered a number of questions you may have about our CPD and isurv offers, training and events, membership, property and valuations, as well as how we are safeguarding our organisation
As we work to support the profession through this challenging time, we are also taking prudent steps to manage our own financial resilience so that we can safeguard our organisation, secure its future and protect jobs.
In April we took the tough decision to ask around 30 per cent of our UK-based employees to go on furlough through the UK Government Coronavirus Job Retention Scheme. As a global organisation, we have also been investigating the suitability of schemes to support businesses in other markets around the world and we are working to take advantage of them to help safeguard the jobs of RICS staff in these countries.
Many of our people have made sacrifices through this difficult time and RICS senior leaders will be doing the same. Our CEO Sean Tompkins has this week volunteered a temporary pay cut of 15%. This has been matched by RICS non-Executive Chairs who will also take a 15% pay cut (where they are remunerated for these roles). Alongside this, Executives will take a voluntary 12.5% reduction of their salary. These pay measures will be effective from May.
These measures contribute towards the immediate objectives of managing our short-term cash flows, but are not in themselves the solution to the long-term challenges ahead as the world moves from health to economic crisis. The CEO and Executive team are also working to re-imagine the future of RICS in the post-pandemic world economics and will be engaging with the Governing Council and Management Board in May to develop that thinking further.
We are grateful and proud of the efforts of all RICS employees who have worked exceptionally through this crisis to maintain our performance and deliver for the profession through our new digital-first approach. RICS is a strong and well-managed organisation with a 152-year history and we have adapted at pace with support from some incredible members of the profession who have given their time freely for the benefit of everyone around the globe. This gives us the confidence that we are laying the right foundations now to weather this storm and emerge to seize the opportunities that will exist beyond it.