It may be 2021, but the gender gap is still alive and well, and Commercial Real Estate (CRE) is no exception. While 64% of all residential realtors are women, this glass ceiling-shattering statistic isn’t reflective of CRE, where only 36.7% of workers are female. This begs the question — what can be done to attract more women into CRE and keep them there?
But, before we can answer that question, let’s consider a few reasons why female talent has struggled to break into the CRE industry. Then we can talk about some creative ways firms can evolve to attract and retain more women:
Where Are The Women in CRE?
Make no mistake, there are some powerful women in the world of CRE that I look up to and admire for making an impact, shattering stereotypes, and
inspiring positive evolution within the field. That being said, we still have
a lot of work to do to balance the scales. Let’s examine some of the primary
driving forces behind the unimpressive gender gap that still exists:
- Like father, like son. The systemic nepotism entrenched within the CRE industry is clear as day and understandable: in a relationship-driven business, it’s not what you know but who you know. But when the CEO hires his COO’s nephew as an intern because of a favor-owed, it perpetuates the problem. While there is nothing fundamentally wrong with working in the family business or returning a favor, issues arise when that’s the primary funnel for sourcing new talent. The result is a narrow, one-dimensional organization that has historically left highly qualified female candidates overlooked or encouraged into more gender-traditional career paths. Click to read more at www.rednews.com.