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Hiring Diverse Candidates Isn’t Enough. CRE’s Next Frontier Is Inclusion

Bisnow article previews a session at CRE.Converge 2019, October 14-16 in Los Angeles

CRE.Converge 2019

While the commercial real estate industry has historically lacked diversity, the industry has become more aware of the need – and the value – of recruiting and engaging a more diverse workforce. The closing general session at NAIOP’s CRE.Converge next week in Los Angeles will address how building a more diverse and inclusive workplace is both necessary and a competitive advantage. Read the Bisnow interview below with session moderator Jerry Guerrero with Hines and panelist Holly Warnick with CBRE. Join 1,500+ industry leaders at CRE.Converge 2019, October 14-16 in Los Angeles.

The article reads, in part:

Many commercial real estate companies are making changes to their recruiting strategies to attract a more diverse talent pool. But simply adding these new hires to the staff isn’t enough to foster lasting change.

“Unless they feel at home, they’re never going to stay,” CBRE Senior Director Holly Warnick said. “That’s why inclusion is so important.”

Inclusion initiatives work to foster a community in which employees of different races, genders, socioeconomic backgrounds and sexual orientations all feel heard and valued. Companies that overlook diversity and inclusion could be missing out on a serious boost to productivity and even revenue. A McKinsey study from 2018 found a strong correlation between diverse leadership teams and profitability.

Creating a truly inclusive environment can be a painstaking process. But now, Warnick said, there are companies within CRE that others can look to as examples of how to make the best first strides.

Industry organizations are joining in as well. In the last several years, NAIOP has launched a variety of programs and scholarships as part of a concerted initiative to advance diversity in the industry. The goal, NAIOP President and CEO Thomas J. Bisacquino said, is to build a continuous pipeline of diverse talent that supports working professionals from underrepresented groups, as well as students pursuing degrees that will lead to careers in commercial real estate.

Read the full article on Bisnow.