Promoting Women to Executive Positions

In their recent study Women in Leadership in the Real Estate and Land Use Industry, the Urban Land Institute (ULI) proposes strategies for the promotion of women to executive roles within the housing industry. The report was published by the ULI Women’s Leadership Initiative (WLI) which surveyed 1,234 female ULI members and focus groups comprised of women in real estate businesses.

Findings reveal that out of ULI members currently holding senior or executive positions, only 14 percent are women. The study also found that among this small number of women in C-suite roles, 93 percent of them operate companies with less than 100 employees. These results are indicative of a corporate climate in need of change it might soon receive, as 68.6 percent of survey respondents affirmed the aspiration to hold an executive position or start their own business.

Moreover, three-quarters of female CEOs surveyed and almost two-thirds of all respondents confirmed the significance of “external networks” as decisive to the advancement of their careers. This emphasizes the importance and benefit of organizations like ULI, WLI, NAWRB and others.

The report recommends the following six courses of action to promote gender parity in the housing continuum:

1. Accelerate Learning through Job Assignments
   Organizations should think and act with an eye toward diversity when deciding who should lead high profile assignments and fill open positions. Coaching should be provided to those who take on new roles to promote learning. Companies should seek a diverse pool of talent to sponsor and mentor.
2. Create the Culture
   The research demonstrates women who place a high priority on an inclusive culture also value strong internal and external networks, objective promotion, and hiring policies/practices.
3. Adopt a Talent Mindset
   Regularly engage in talent conversations to identify a diverse pool of high- potential employees and agree on strategies to mentor and challenge.
4. Offer Workplace Flexibility for Men and Women
   Flexible hours are seen as a proxy for a trusting environment. Provide family leave for men and women and a culture that supports both genders in being involved in their lives outside of work. This is especially important for Gen X and millennial employees.
5. Make Mentoring and Sponsorship of Women a Priority
   One benefit of robust internal networks is receiving both mentorship (a sounding board and advice from someone who is not the direct supervisor) and sponsorship (advocating on the woman’s behalf to other senior leaders or in arenas where she cannot represent herself).
6. Invest in Training to Drive Change
   Support success on challenging work assignments by providing relevant training that includes men and women. Leverage training and development activities to create a strong network of relationships within the organization that carries the inclusive culture.

To read the report in full and learn more about ULI, please click here.