Yardi recently sponsored and participated in an event hosted by the Empire Club of Canada. The panel talk, titled “The Evolution of the Real Estate Industry — Diversity, Culture and the Workplace,” focused on the commercial market. Established in 1903, the Empire Club of Canada is an influential forum for leaders in various industries and cultural organizations. Every generation, but especially Baby Boomers and millennials, has a major impact on various sectors of real estate. The Empire Club panel broadened the discussion to include gender and racial diversity. The hope was to motivate industry leaders to increase the presence and influence of women and minorities in the Canadian real estate industry. The panel included Scott Addison, President, Brokerage Services Canada, Colliers International; Toni Rossi, President, Real Estate Division, Infrastructure Ontario; and Michael Brooks, CEO, Real Property Association of Canada. Serving as moderator was Sheila Botting, National Real Estate Leader in Canada and a partner at Deloitte. Driving Change Botting compared a thriving work culture to an ecosystem. No ecosystem can be homogeneous — diversity is crucial for ongoing growth and survival. “Diversity drives productivity, profitability and better outcomes for everyone involved,” Botting said. Addison commented that the first thing that needs to happen to drive change is awareness. He has personally observed a lack of gender diversity in the brokerage arena. To address this issue,  Colliers set up campus recruiting and other hiring programs led by women to help balance the gender gap. Rossi, representing Infrastructure Ontario, said the organization is fortunate to have a 50/50 gender balance in its leadership.  That has been established thanks to direction by the federal government, especially during the Trudeau administration. Rossi outlined three key things she believes can prompt change: Leadership: set a target (not a quota) for...

The world is facing a worker shortage. For the last few years, the World Economic Forum and others have been sounding the alarm on what they call “skills instability,” and many industries are scrambling to find qualified applicants. With women currently making up less than half of the global workforce, tapping into the gender gap could be the solution for the tech industry’s talent shortages. The best way to close the gap? Digital fluency. A new study by Accenture reinforces this idea, declaring, “Because women are underrepresented in the workforce in most countries, they are a significant source of untapped talent.” Digital Fluency Accenture’s study makes it clear that increased access to learning and using digital media results in a smaller gender gap, in both opportunity and advancement. “Our analysis highlights the importance of digital fluency in helping countries progress toward equality in the workplace,” explain the report’s authors. “Higher rates of digital fluency among women have higher rates of gender equality in the workplace.” Defining the Gap Accenture surveyed almost 5,000 women and men in 31 countries to measure their access to digital technologies, including smartphones, wearables, and other devices. Information gleaned from those surveys was cross-checked with data on internet usage gathered from the International Telecommunication Union (the United Nations agency for information and communication technologies). Accenture researchers also looked at three specific areas when creating their template for gender equality. They investigated how women use education in preparation of finding work, how they go about actually looking for a job, and how they advance in their careers. This information was then compared with data from the World Bank and the OECD. The numbers revealed ample evidence that digital fluency can “act as an accelerant in every stage of a person’s career.”...