RICS Q3 performance: Delivering confidence through resilience

Even at the busiest of times, every now and then it is important to step back and take stock of your situation. In the last few months – covering Q3 of RICS’ business year from February to April – we have experienced some of the most dramatic changes to our social and business life that many of us will ever see.

But perspective is everything. We can’t predict the exact form that the future will take, but the truth is that many of us will see change and disruption on this scale again at some point in our lives. The real question that emerges in times of change – as RICS President Tim Neal wrote in his reflection on the profession’s resilient response to COVID-19 –  is: how did we respond in order to keep fulfilling our purpose?

Everything RICS does is designed to effect positive change in the built and natural environments. In this quarter, our sector has been at the forefront of the world’s response to the pandemic, and we have been agile in supporting professionals to deliver public confidence through their work.

This has meant doing things differently as well as accelerating some of the reforms we were already driving, but it has been enabled critically by adapting ourselves and the way we work to maintain the wellbeing and performance of our people, and to manage our cash flows in a radically altered operating environment. This has all contributed to our long-term plan to achieve Governing Council’s aim for RICS to be a relevant and trusted 21st Century global professional body.

One key highlight has been our digital transformation. Building successfully on the investments we have been making over the last 18 months, we have shifted RICS global operations to be primarily digital wherever possible and updated our guidance to help professionals continue delivering to the public advantage in these times of social distancing practices.

This step-change in digital delivery and adaptation has kept the public, professionals and RICS people confident and safe during these challenging times. It has allowed us to reach more professionals across the world, delivering more relevant content and support at greater scale while making more efficient use of resources.

The tragic legacy of COVID-19 will be with us for many years – but so will the lessons we have learned. They point towards a world in which RICS and the professionals we support will need to embrace technology and constantly adapt so that we can continue serving the public advantage. Working together, I have every confidence that we will.

I welcome all comments on this quarter’s performance.