CRE Takes a Hard Look at DEI

Jessica Fiur, Editor-in-Chief

The U.S. is a melting pot. (See also: Salad bowl.)

According to the U.S. Census Bureau, the national population was more racially and ethnically diverse in 2020 than it was 10 years earlier.

But for those in CRE, well, you all already know what I’m going to say. The industry is making progress, but it certainly isn’t where it needs to be yet. A 2020 CREW Network survey found that only 16 percent of respondents felt that 25 percent of people in their workplaces were BIPOC. And while women were making strides, they still only make up 36.7 percent of the industry (and are still paid way less than their male counterparts).

That said, progress is progress, and deserves to be celebrated! Many real estate companies are working to make diversity a priority—and a reality—and are focusing on DEI initiatives, mentoring programs and hiring from more varied talent pools.

“A key focus in our diversity, equity and inclusion strategy is developing, nurturing and empowering our people,” Nadine Augusta, chief diversity, equity and inclusion officer at Cushman & Wakefield, told Fotios Tsarouhis in “CRE Diversity Roundtable: Today’s Talent, Tomorrow’s Leadership.”

It’s heartening to know that those in commercial real estate aren’t content with the status quo. And it’s not looking to diversify the C-suite, but the whole industry.

“We believe in having diverse representation in our most senior levels, but we also know that building the pipeline for the future requires significant investments today in early career talent,” Jane Curran, head of talent acquisition at JLL, said to Tsarouhis.

If you’re looking for some inspiration, you’ll love reading Tsarouhis’ roundtable. And I’d also love to hear some of your company’s DEI initiatives.

Read the July 2023 issue of CPE.