DEI Data Is Vital For Real Estate — But Only If Companies Put It Into Action

The need to accurately assess whether diversity, equity and inclusion policies are bearing fruit is vital if the real estate industry is to become more diverse — but that data can only be impactful if companies take it and use it to alter their culture.

“We all saw a lot of words coming out in the aftermath of the Black Lives Matter campaigns [in 2020], and how many companies are still doing things around ethnicity now?” Lendlease Head of BeOnsite Jessica Mellor-Clark told an audience of more than 200 at Bisnow’s Women Leading Real Estate: International Women's Day Cocktail.

It is important to gather data to “hold the feet to the fire” of decision-makers and ensure that DEI policies are effective, British Property Federation CEO Melanie Leech said at the event, held on the 68th floor of the Shard in London.

Attendees heard that real estate professionals are increasingly assessing whether a potential new employer has a robust DEI strategy when deciding whether to apply for a job.

But it is important and difficult to go further than this, to glean whether a company is matching its words with actions in how it advances the careers of its staff. 

“We all know to get hired is one thing, but to actually grow a career in the company is another,” Sunrise Real Estate Chief Operating Officer and co-founder Jenny Wang said. 

“If you don't have a mentor or sponsor or a team that you feel like is supporting your growth, then these DEI data numbers don't matter, because you don't want to just be a statistic.”

Panellists addressed unease about an environment in which companies are rolling back DEI programmes, particularly in the U.S. in response to policy and rhetoric from the new Republican government. 

“I think we’re all really well aware now of the cuts that are being made in EDI, and I think that's a really terrifying prospect,” Mellor-Clark said. “Because if we're not careful, we will see so much being rolled back, and I don't think any of us want to go back to the way it was before.”