Insights
Women to lead the change in the commercial real estate industry
Equal opportunity and the right kind of representation are crucial to building the economies of the future. Economies that are both dynamic and inclusive, must ensure that everyone has equal opportunity. When women are integrated as both beneficiaries and shape the
global community, it gains a layered understanding of skills, ideas and perspectives that are critical for addressing global challenges and harnessing new opportunities.
As the world embraces a diverse share of talent, drive and potential at business level and national level it is evident now more than ever that innovative capacity of a country or a company is the key differentiating factor. In this new context, the
integration of women into the talent pool becomes a must as talent is one of the most essential factors for growth and competitiveness.
Notable recent estimates suggest that economic gender parity could add an additional US$250 billion to the GDP of the
United Kingdom, US$1,750 billion to that of the United States, US$550 billion to Japan’s, US$320 billion to France’s and US$310 billion to the GDP of Germany. Other recent estimates suggest that China could see a US$2.5 trillion GDP increase from gender parity and that
the world as a whole could increase global GDP by US$5.3 trillion by 2025 by closing the gender gap in economic participation by 25% over the same period.
These studies serve to reiterate that as one-half of the world’s population, women are drivers of the economy. However, it is pertinent to note that gender parity is also fundamental to whether and how economies and societies thrive. Ensuring the healthy development and appropriate use of half of the world’s total talent pool has a vast bearing on the growth, competitiveness and future readiness of economies and businesses worldwide.
Role of Women in Commercial Real Estate
Increasingly, women are breaking gender stereotypes and stepping into historically male-dominated fields, and the commercial real estate industry is no exception. In fact, women occupy many executive roles including senior vice president, managing director and partner
roles today and are more satisfied with their career success than ever before, according to a recent benchmark study by the Commercial Real Estate Women network.
Today, women in CRE have made their presence felt as founders and managers of lucrative
companies. In fact, the CREW study suggests that in many aspects, women have achieved equal or close-to-equal standing to men in the industry. Career opportunities in commercial real estate run the gamut from architecture, asset management and investment banking to
engineering and environmental science.
The CRE industry has been slower than other industries to improve on gender parity. In the United States, men make up 65% of the CRE workforce, and this discrepancy parallels other nations. Increasing the participation
of women in CRE is of utmost importance. For instance, it has been revealed that $26 billion could be added to the economy in Singapore if the scope of gender parity can be expanded. Women represent 37% of the overall CRE workforce in Canada. While women have achieved
more parity in positions like property and asset management, similar to the US, they fall short in leadership roles.
The Women at RMZ
Though our numbers are still relatively small, women are making their presence felt, at RMZ Corp We are proud of our longstanding commitment to diversity, and our workforce today reflects the communities and cultures in which we do business.
With more than
33% women workforce, RMZ Corp is has most women holding strategic roles and leading teams within the organization. We believe in recruiting exceptionally talented people who share identical organizational values and way of thinking. We at RMZ relentlessly pursues
innovation. By empowering our talented team, RMZ Corp promotes entrepreneurship and new ideas to bring depth and potential to every line of work.
Way forward
While a majority of organizations are embracing new strategies to improve gender diversity both in terms of recruitment and retention, the business fraternity still has a long way to go before women are equally represented in the workforce.
Increasing the
proportions of women leaders - both through improved hiring rates for leadership positions, as well as building strong internal pipelines for promotion - could be the start of a virtuous circle, eventually leading to more equity of economic opportunity for women
globally.
Encouraging more female leadership is one of the levers for increasing gender equality in the workforce. Ultimately, however, if we are to get there, it will require men and women, at all levels, to embrace and promote diversity and inclusion.
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