The recent allegations against Foxtons have put workplace culture in the property industry under the microscope. A Bloomberg investigation revealed claims from current and former employees, highlighting instances of inappropriate behaviour towards junior and foreign staff. While Foxtons has acknowledged the issue, admitting there is still work to be done, the situation raises a bigger question: Are companies in the property and financial sectors doing enough to drive real cultural change, or are they simply paying lip service to the idea?
In industries built on trust — where professionals guide clients through major financial decisions — an unhealthy workplace culture can do more than damage internal morale. It can erode client confidence, hurt business performance, and expose companies to serious legal and reputational risks. Yet, too often, businesses respond to misconduct with surface-level reforms rather than addressing the root causes. A genuine commitment to change requires more than public statements — it demands action, accountability, and a willingness to challenge ingrained practices that allow misconduct to persist.
The law does not explicitly define workplace bullying, but that does not mean businesses can ignore it. The Equality Act 2010 prohibits conduct that undermines an individual’s dignity or creates a hostile environment, if linked to a protected characteristic such as gender, race, or disability. The Worker Protection Act 2023 goes further, imposing a duty on employers to take proactive steps to prevent sexual harassment rather than simply reacting to it. Meanwhile, the Protection from Harassment Act 1997 provides another legal avenue for claims, with case law establishing that oppressive and unreasonable behaviour can give rise to liability. If an employer is aware of misconduct and fails to act, they could also face claims of negligence. This growing legal framework highlights a shift in expectations: businesses must take workplace culture seriously, not just respond when issues arise.
For companies in the property and financial sectors, the risks are particularly high. With increasing scrutiny from regulators, investors, and the public, businesses that fail to act decisively risk lasting reputational damage. A well-publicised scandal can deter both clients and top talent, undermining long-term success. The financial impact of failing to address workplace misconduct can be severe, leading to costly legal battles, high staff turnover, and loss of investor confidence. Businesses cannot afford a reactive approach; they must prioritise preventative measures and demonstrate an unwavering commitment to upholding professional standards.
One of the most effective ways to combat workplace misconduct is through robust reporting mechanisms. Foxtons has recently introduced a ‘confidential whistleblowing process,’ allowing employees to report misconduct anonymously. Such initiatives are crucial, but they must be backed by clear enforcement measures. Employees need confidence that their concerns will be taken seriously, not dismissed or ignored. A reporting system that exists only on paper, without proper follow-through, does little to instill trust or prevent future issues. Companies must ensure those who come forward are protected from retaliation and reassured that decisive action will be taken when necessary.
Policy updates and training sessions are not enough on their own. Businesses must embed a culture of respect in day-to-day operations, ensuring anti-harassment measures are not just a box-ticking exercise. Foxtons has expanded its ‘equality, diversity, and inclusion’ training, but companies must go further by providing targeted, role-specific education. Managers, HR teams, and those handling misconduct complaints need in-depth training to ensure they are equipped to respond effectively. Employees at all levels should understand their rights, the company’s expectations, and the consequences of unacceptable behaviour. Simply having policies in place is meaningless if staff do not feel empowered to report misconduct.
Crucially, enforcement must be consistent. Too often, businesses introduce policies only for them to be applied selectively, leading to mistrust and disillusionment among staff. Employees must see that inappropriate behaviour has real consequences, regardless of seniority or past performance. When complaints are swept under the rug or only addressed when they become public scandals, companies send a damaging message — that culture change is merely performative. A workplace where employees feel empowered to speak up, confident that action will be taken, is one where misconduct is less likely to thrive. Trust in leadership plays a critical role in fostering a strong workplace culture. Leaders must set the tone by demonstrating zero tolerance for inappropriate behaviour and holding themselves to the same standards as their employees.
Foxtons’ case should serve as a wake-up call. The property and financial sectors cannot afford to treat workplace culture as an afterthought. Real change requires investment in meaningful policies, ongoing education, and a commitment to accountability at every level. Without this, businesses will continue to face cycles of scandal, reputational damage, and loss of trust. Addressing workplace misconduct isn’t just a legal obligation — it’s a business imperative. Firms that fail to act will quickly find themselves left behind. The time for vague commitments has passed; meaningful change is the only option for businesses that want to thrive in the long term.
