Global Survey Shows CRE Placing Greater Importance on DEI
95% are addressing issues either by having a formal program or by enacting initiatives and policies.
Commercial real estate companies are broadening and deepening their diversity, equity, and inclusion (DEI) programs and initiatives, and firms are also now placing a higher degree of importance on other dimensions of DEI.
The Global Real Estate DEI Survey 2022 was released this week by ANREV, INREV, Ferguson Partners, NAREIM, NCREIF, PREA, REALPAC and ULI.
The survey also reveals the gender composition of the CRE industry, by region, and for the first time reports non-binary demographics for North America.
The survey tracks gender, gender identity, race/ethnicity and nationality and age across seniority and job functions in North America as well as gender, gender identity and age across seniority in Asia-Pacific and Europe. It also provides insights into corporate practices in relation to DEI programs, recruitment, retention, training and development, inclusivity and pay equity.
Measured Progress
The survey found that 95% of respondents are addressing issues of DEI either by having a formal program or by enacting initiatives and policies to improve the representation of women and underrepresented groups. Of those with a formal DEI program, more than 85% set qualitative and/or quantitative or measurable goals.
Also, companies are increasing the representation of underrepresented groups at the senior level with one-third of respondents planning to ensure managers receive training on anti-bias hiring within 12 months.
Other findings show that nearly three-quarters of respondents seek feedback on DEI initiatives from their employees and that almost 33% of firms say they collect gender identity data outside of a male/female binary definition.
Finally, slightly over 70% of respondents have a formal DEI committee, which decides its DEI policies.