JLL has set aside $4 million to supplement salaries for entry-level minority and female employees who occupy commission-based roles. It also will provide them training, development and assigned mentors. Additionally, JLL’s U.S. capital markets business has launched a college loan repayment program, whereby new capital markets analysts who have student loans will receive as much as $5,000 annually, up to a lifetime maximum of $15,000, to repay student debt.

The efforts are meant to lower the financial barriers of entry to work in the commercial real estate industry, especially in brokerage and capital markets. Building a client base and bringing deals to closing takes time, and those in lower socioeconomic brackets often can’t bridge that gap solely on the base salaries associated with commission roles.

“For college graduates with student loan debt, the commission-based salary structure for transaction sales has proven difficult for many to consider as a first-job applicant,” said Chris Drew, co-head of capital markets in JLL’s Miami office. “And with research suggesting women and people of color graduate with a disproportionate amount of student loans, this means the industry is losing out to a massive talent pool.” According to JLL Americas markets CEO John Gates: “Commercial real estate has long lagged behind other industries in reflecting the communities it serves. While there’s no easy answer to solving this industrywide challenge … we can start to change the industry from within. The business case for diversity is overwhelmingly evident and has a proven track record in other industries.”

Additionally, JLL and The HBCU Business Deans Roundtable launched the JLL Ambitions Fellowship Program in May. School administrators will select student interns based on factors other than traditional metrics like GPA. And this year, JLL has started working with Ascending Athletes to connect diverse undergraduate and student athletes at historically Black colleges and universities with career opportunities.

 “The past year has created an urgency for actionable workplace change that addresses racial inequity and breaks down systemic barriers to entry for all candidates,” said JLL global head of diversity and inclusion Ingrid Jacobs. “We believe our holistic approach to diversifying our talent pool will be a catalyst for lasting, transformative industry change.”