Striving for High Performance through Diversity and Inclusion

The rental housing industry has always been fraught with challenges, even in good times such as these. One of the greatest obstacles ahead is achieving nearly five million new affordable apartments in the next 10 years, which will take a herculean effort as the industry works through the usual hurdles. A more immediate challenge is a rental housing workforce that needs to grow to meet future needs at a time when it’s hamstrung by record-low unemployment but stay in step with evolving cultural shifts. In the last few years, housing leaders have ushered in new strategies to not just grow employment but keep the people they have. The willingness to invest in policies and practices to help strengthen diversity and inclusion in their organizations is seen as an opportunity to attract and retain talent for the future. The movement is also a chance to breed strong workforce cultures that ultimately enhance financial performance and separate companies from each other. “It’s a competitive advantage,” says Betsy Feigin Befus, who is charge of the National Multifamily Housing Council’s diversity and inclusion initiative. “More apartment companies understand the importance of both diversity and inclusion to their businesses. A greater number of multifamily executives are paying attention to the data showing the value of diversity and inclusion to the bottom line.”                                                               NMHC’s diversity and inclusion initiative began 15 years ago but recent shifts are fast-tracking the effort. Engagement by NMHC members is growing, Feigin Befus says, and strategic alliances have been formed within the real estate industry to promote diversity and inclusion at all levels of the talent pipeline. NMHC regularly offers programming, pr...