LET'S TALK ABOUT
WOMEN'S HERITAGE MONTH - 

"One thing I think is really fascinating, and that studies have shown, is that companies, all companies regardless of industry, are more profitable and have better governance when there are women in executive leadership... in business we talk about the bottom line, you can have a better bottom line with more women in leadership.”   – Wendy Mann, CAE | CEO of CREW Network

2020 CREW NETWORK BENCHMARK STUDY REPORT
GENDER & DIVERSITY IN COMMERCIAL REAL ESTATE

PROGRESS FOR WOMEN - AN OVERVIEW
1. The study saw a 5.4% increase in women respondents 39 years old and younger, indicating a growing generation of young and emerging women professionals in the industry.
2. More women occupy brokerage positions than ever before (29%), a 6% increase from 2015.
3. More women (32%) are aspiring to the C-suite, a 4% increase from 2015.

CAREER TRAJECTORY
In 2020, approximately 36.7% of all professionals in commercial real estate are women. Since 2005, the percentage of women in commercial real estate has remained consistently between 35 and 37%. Twenty-two percent of male respondents occupy the C-suite (a 5% increase from 2015) versus 9% of women, the same number from both the 2010 and 2015 studies. In senior vice president, managing director and partner level positions, the percentage of women decreased in the last five years from 27% to 22%, while the percentage of women at the senior level—defined as experienced professionals reporting to the VP (or equivalent level) and higher—remained the same at 33%. The study saw a greater proportion of women at the entry- (1% increase) and mid-levels (5% increase).

SUCCESS FACTORS AND BARRIERS
In 2020, both men and women said the respect of their co-workers is the most important factor in their career satisfaction. The top five self-reported barriers to success have not changed for women since 2015, although the ranking of the top three has been reshuffled, with lack of a company mentor/sponsor dropping down from first to third. For men, lack of promotion opportunities is once again on top as it was in 2010.

ACTION LEADS TO CHANGE
While the commercial real estate sector has experienced dramatic swings over the past 15 years—primarily as a result of a recession and other economic changes—the presence and status of women has remained mostly stable, with only slight progress for women. Approximately 60% of study respondents reported that their workplace is “not very” or “not at all” diverse, and non-white respondents made up only 13% of our sample, indicating a lack of diversity in the industry. Equity for women and BIPOC is still an uphill climb individually and as an industry. 

SPOTLIGHT: DEE CREECH OSBORNE 

Lee & Associates Advisory Board Member, Michelle Rhino, sits down with industry veteran, Dee Creech Osborne, to talk about her career in commercial real estate. Watch the Interview >