DEI Survey 2022 Results

Deccember 13, 2022

The Global Real Estate DEI Survey 2022 results have been released showing that in North America, the representation of women and people of color has increased year-over-year by almost 4% and 8% respectively.

According to the results of the DEI Survey 2022, which represents 357,041 full-time employees, $2.34 trillion of AUM, and a cross section of the commercial real estate industry in terms of size, region and business classification, the gender balance in North America moved in favor of more female representation between 2021 and 2022 - increasing to 42.5% of the workforce in 2022, up year-over-year from 41%.

To download the executive summary of the DEI Survey 2022, click here.

To download a copy the press release, click here.

Regional breakdown by gender/ethnicity

• In North America, representation by people of color also increased year-over-year by almost 8%, increasing from 29% in 2021 to 31.3% in 2022.

• Europe & APAC: Among organizations reporting for Europe, female representation increased by almost 4% in 2022 — rising to 39.5% up from 38% in 2021. In Asia-Pacific, participants reported that women represented 50% of the workforce, up from 47% in 2021 — a 6.4% increase year-over-year.

The Survey brings together participation from 192 unique organizations which provided 210 submissions detailing their DEI practices in North America (81.4% of respondents), Europe (12.4%) and Asia-Pacific (6.2%). Data was collected between July 28 and October 7, 2022. It was produced by ANREV, INREV, Ferguson Partners, NAREIM, NCREIF, PREA, REALPAC and ULI.

The Survey also revealed that while almost all respondents are addressing gender or gender identity, firms are also now placing a higher degree of importance on other dimensions of DEI. Results showed that 95% of respondents are addressing issues of DEI either by having a formal program or by enacting at least some initiatives and policies to improve the representation of women and underrepresented groups at their respective organizations.

Key findings from the Global Real Estate DEI Survey 2022 include: 

DEI programs and measurable outcomes 

• 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. 

• Among respondents that have a formal DEI program, more than 85% set qualitative and/or quantitative or measurable goals, and, over the next 12 months, 11.1% that do not say they plan to do so. 

• The main goals are increasing the representation of underrepresented groups at the senior level and improving employee engagement. 

Recruitment, retention and pay equity 

• Anti-bias measures are important for recruitment and retention with a third of respondents planning to ensure managers receive training on anti-bias hiring within 12 months. 

• A key strategy for retaining talent from underrepresented groups is to outline job requirements very clearly and set unambiguous expectations. 

• Gaining feedback is another important tool. Almost three-quarters of respondents seek feedback on DEI initiatives from their employees.

• CRE companies are also tackling pay equality in greater numbers. In 2021, 79% of respondents were analyzing pay gaps based on gender or planning to do so. The figure has risen to 85% in 2022. Europe leads this analysis with 84% of respondents in Europe currently monitoring pay equity compared with 66.7% and 68.6% of Asia-Pacific and North American respondents, respectively. 

• According to the DEI Survey 2022, firms of all sizes are working on levelling the pay gap.

North America snapshot: Out of 192 unique organizations submitting data to the DEI Survey 2022, 81.4% were from respondents with operations in North America. 

• For the first time, the DEI Survey 2022 collected data on nonbinary professionals. Almost 33% of firms say they collect gender identity data outside of a male/female binary definition. Among interns, just 0.5% identify as nonbinary and did not disclose their race/ethnicity. 

• Slightly over 70% of respondents have a formal DEI committee, the main decision-maker on DEI policies. 

• Firms judge the most impactful policy as communicating the importance of DEI to employees, followed by offering work/life balance programs such as childcare and flexible work arrangements. Just under 60% of firms said they allow all staff the option to work remotely at least part of the week. 

• Gender and ethnicity/race diversity in CRE in North America: Men 57.5%; Women 42.5%

Europe snapshot: Out of 192 unique organizations submitting data to the DEI Survey 2022, 12.4% were from respondents with operations in Europe. 

• European firms are showing signs of increased sophistication on DEI matters, especially broadening initiatives aimed at increasing the representation of underrepresented groups at the top levels, linking metrics such as compensation to outcomes, levelling pay disparities and facilitating inclusiveness. 

• All respondents report offering work/life balance programs, which may include childcare and flexible work arrangements. Almost eight out of 10 European respondents give all employees the option to work remotely at least part of the week. The global average is 61%. 

• Almost 90% of European respondents target recruiting underrepresented groups in senior- level positions. The next goal is employee engagement on DEI initiatives. 

• Gender diversity in CRE in Europe: Men: 60.5%; Women: 39.5%

Asia-Pacific snapshot: Out of 192 unique organizations submitting data to the DEI Survey 2022, 6.2% were from respondents with operations in Asia-Pacific. 

• Asia-Pacific firms typically address the following dimensions of diversity: gender (100%), race/ethnicity/nationality (76.9%), sexual orientation (69.2%), age (61.5%) and physical disability (53.8%). 

• Decision-making is led primarily by DEI committees, HR and senior-level employees. Almost a third of CEOs make decisions on DEI. 

• Defining success is an important part of running an efficacious DEI program. For Asia-Pacific respondents, the most important outcomes are twofold: having more people from underrepresented groups in senior positions and gaining diversity throughout the entire organization. 

• Gender diversity in CRE in Asia-Pacific: Men: 50%; Women: 50%

To download the executive summary of the DEI Survey 2022, click here.

To download a copy the press release, click here.