The Power is Now

Commercial real estate firms see slight improvement in diversity of workforce – Pensions & Investments

Commercial real estate firms made a slight improvement in achieving a more diverse workforce, with women accounting for 42.5% of employees in North America, up from 41% in 2021, 39.5% in Europe up from 38% and 50% in the Asia-Pacific region, up from 47%, according to the Global Real Estate DEI Survey 2022 produced by seven real estate organizations.

There are slightly more employees who are members of an ethnic group or non-white race, accounting for 31.3% in North America, the only region for which the groups collect such data.

The annual survey is produced by seven real estate trade groups — Asian Association for Investors in Non-Listed Real Estate Vehicles, European Association for Investors in Non-Listed Real Estate, NAREIM, National Council of Real Estate Investment Fiduciaries, Pension Real Estate Association, Real Property Association of Canada and the Urban Land Institute. Data were collected from 192 firms between July 28 and Oct. 7.

In North America, women account for 49.8% of junior staff, 23% of executive management and 29.6% for senior-level promotions. In Europe, women make up 57.2% of junior staff and 12.9% of management level executives. Also in Europe, only 12.1% of senior-level executives who were promoted were women. In the Asia-Pacific region, women make up 67.4% of junior staff, 24.6% of executive management and 34.8% of senior-level professionals.

Some 85.2% of real estate firms across the three regions indicated they are or plan to analyze pay gaps based on gender, an increase from 79% in 2021.



own shows