Summary of the Governing Council meeting, 29 & 30 January 2024

This was the first meeting chaired by the new RICS President, Tina Paillet FRICS.

Tina opened the meeting and welcomed the two new independent members, Liz Peace, Senior Independent Governor (SIG) and Gurpreet Dehal. She also welcomed Nick Maclean as the new Senior Vice President.

She also set out her priorities for the year.

Nominations and Remuneration Committee (NRC)

• There is a recurring challenge attracting enough members to apply for roles, which narrows the field of representative candidates.
• In 2024, the NRC will review the Global Appointments Model, as part of ongoing work to refine and improve RICS’ recruitment processes.
• A working group have considered appointed roles on Governing Council. These would be subject to a full recruitment process in line with the Global Appointments Model.

Decision

• Council agreed the working group’s recommendations, set out below.
  • To amend the regulations to enable three additional seats to be appointed to Council.
  • The three seats will be filled by: a person with accounting/finance experience; a person with legal experience; a person with marketing and communications experience.
  • At least one of the roles will be filled by someone who is not an RICS member.
  • The roles do not need to be appointed from the UK. People from diverse backgrounds should be encouraged to apply.
  • Sustainability should be included in the role descriptions for all Council roles; candidates would be encouraged to provide their sustainability credentials.

Assurance reports

• Council received assurance reports from the RICS Board, the Standards and Regulation Board, and the committees for: Audit, Risk Assurance and Finance (ARAF), Knowledge and Practice, and Membership Services (MSC).

Decisions

• Council agreed that Professional Group Panel plans should include how the panels would interact with Governing Council.
• Council welcomed the new MSC Chair, Douglas McCormick FRICS, and his commitment to a member-centric RICS.

Key results and performance measures

• The key results and performance measures working group presented a series of recommended key results and KPIs for the organisation.

Decision

• Council agreed that the draft key results and KPIs needed to be more ambitious, and asked for a revised set to be brought back for consideration.

Impact of new ways of working

• Tina Paillet introduced a discussion on the future of offices in the context of new technologies and work patterns.

Decision

• Following discussions, Council agreed to draft a White Paper on the topic, elaborating on points raised in the meeting, and setting out challenges and opportunities for members, and how RICS could assist with these.

Development session

• Council discussed the role of Council and its members, and what skills and behaviours make for an effective governing body.

Decision

• The output from discussions would be reviewed by the Nominations and Remuneration Committee, alongside current role descriptions.

Economic outlook

• A macro-economic overview showed that, while market optimism was improving, there were still risks. Access to finance, materials costs and skills shortages were the top three constraints flagged in our latest Global Construction Monitor (PDF).

Decision

• Council noted the report and agreed that addressing skills shortages was a priority.

DEI and Next Generation

• Council received an update on RICS’ activities and progress in DEI.
• Council discussed expanding Matrics internationally, noting that the offer to members varied between countries, as did local needs.

Decisions

• Council agreed that sector-wide leadership for both DEI and sustainability was important, and that Council should engage with other groups within RICS’ governance structure to deliver this.
• Feedback from Council members would be used to shape proposals on expanding Matrics.

Sustainability

• Council received a report on RICS’ observer status and achievements at COP28, and our invitation to March’s UNEP Ministerial Forum on buildings and climate.
• Council discussed priorities and considerations for the sustainability strategy.

Decision

• Feedback from Council members would be used to shape our sustainability plans.

Complex complainant behaviours policy

• Council received an update on a new policy, which would replace the current Acceptable Behaviour policy, and apply to both members and non-members interacting with RICS.

Decision

• Council agreed that the policy needed further development, and that there should be separate policies for members and non-members.