Bisnow's 2024 DEI Data Series
A Note From The Editor
What could be more contentious than “DEI” in 2024?
Diversity, equity and inclusion is battered and bruised, struggling to maintain its relevance versus an onslaught of activists and politicians who would very much like to see DEI fade away.
The latest headlines suggest they are winning. Scores of corporations large and small are backing away, softening or eliminating their DEI stance or recalibrating their initiatives to avoid litigation or negative publicity.
In another sense, however, DEI’s momentum is accelerating: Global investment in DEI initiatives totaled $10.9B last year and is projected to surpass $24B by 2030. It seems the proponents of the DEI movement, or whatever new labels emerge, will not be swayed from their goals.
When Bisnow started this annual investigative series four years ago, commercial real estate had freshly committed itself to improving its diversity — and to its credit, it has every year, albeit incrementally.
Still, our latest four-part analysis shows that CRE’s leadership remains predominantly white and male, with women and people of color occupying only a small fraction of executive roles.
But as DEI headwinds emerge, so has Gen Z. The most diverse generation in American history is entering the U.S. economy with critical force and has a demand for any CRE firm who would like to employ them: stay the course. Experts warn that failing to address their diversity expectations could hinder talent acquisition and retention.
DEI challenges also extend to the data center sector, the supercharged, trillion-dollar segment of CRE which has struggled to attract and retain diverse talent.
Analysts told Bisnow that creating a pipeline of opportunities for underrepresented groups is essential for addressing its labor shortages — and meeting the global economy’s urgent AI demands.
Wherever DEI lands, real estate is at a critical juncture: meet evolving societal and workforce expectations or risk stagnation in an increasingly competitive market.
— Mark F. Bonner, Bisnow Editor-in-Chief | Nov. 27, 2024
The Data
Bisnow's 2024 analysis of the racial and gender makeup of CRE's largest companies
Commercial real estate has made some progress over the last year in adding more people of color and women at its highest levels, but the C-suites at 100 of the largest companies remain more than 85% white and over 70% male.
The Politicization Of DEI
The election of Donald Trump is seen as a win by the “anti-woke” movement, which is pushing back on DEI initiatives as bad for business. Commercial real estate companies say they aren't backing away from pushing for more inclusivity, but they are adjusting their tactics and being extra cautious about the legality of their programs.
The Demands Of The Next Generation
Gen Z is demanding employers adopt more diverse hiring and promotion practices, pushing for concrete actions to support DEI pledges and spearheading what may become a sea change for CRE’s diversity in the next decade.
The Boom That's Leaving DEI Behind
Hundreds of billions of dollars are pouring into artificial intelligence data centers, but few women and people of color are set to benefit. Beyond improving equitable opportunities, diversifying the sector could help solve a massive talent crunch.
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