March 8, 2023, is International Women’s Day, which falls in the middle of Women in Construction Week™, which “celebrates and promotes the role of women in the construction industry. This year’s theme, “Many Paths, One Mission,” looks at women’s many paths toward “strengthening and amplifying the success of women in the construction industry.” Neighborhood Development Company is committed to diversity and equity in all aspects of its process, including ensuring that women have a place at the table in the construction industry.
Women are Critical to the Success in the Construction Industry
The National Bureau of Economic Research published a paper showing that women exceed men in the ability to communicate, a highly prized skill in an industry where dozens, if not hundreds, of moving parts demand effective communication in order to execute the coordination needed to complete any project. This skill is not the only benefit of having women join the team. According to McKinsey, companies with more gender-diverse workforces outperform their competition, and companies with more women in leadership positions are more likely to outperform companies with less gender diversity. These statistics looked across industries, but the Associated General Contractors of America also released a report outlining six critical areas of excellence supported by workplace diversity, including workplace safety, market share, productivity, and innovation.
Women hover at about 10% of the entire construction industry, which means the sector lags behind others in integrating women into their ranks. Organizations with a specific mission to provide women with networking, mentoring, and growth opportunities strive to change these numbers and facilitate the increase by making the industry more appealing and accessible to women. One area with significant growth has been women-owned businesses that capitalize on the demand for diverse suppliers, providing high-quality services that are owned by women. “Representation is important,” says Michaela Cancel, Senior Vice President at NDC, “I have seen the difference it makes to have more women involved in construction because it’s a growth that feeds itself.” Michaela is an active member of CREW, and she says it is helpful to have a dedicated space where she can meet and interact with other women in the industry.
NDC Leads the Way in Representation
Recognizing the benefit of diversity among its leadership and ranks, NDC has always prioritized hiring and mentoring a diverse range of experts to provide top-quality insights, work, and representation to the organization. “We believe in increasing opportunities at all points of contact – from housing for underserved communities to career advancement for people traditionally excluded from the industry,” says NDC Founder and CEO Adrian G. Washington. “It’s not just a goal; it’s one of the keys to our success.” To meet the NDC team or learn more about how NDC is creating change for communities and individuals, contact us today.