Toronto, ON (May 29, 2025) – VersaFi (formerly Women in Capital Markets) is proud to share the completion of Awareness to Action: Promoting Allyship in the Canadian Finance Industry, a research report examining how middle and senior-level managers in Canadian finance engage as allies in the workplace.
This study, funded by Employment and Social Development Canada through the Workplace Opportunities: Removing Barriers to Equity (WORBE) program, provides critical insights into what drives meaningful workplace allyship. VersaFi has leveraged these insights to develop a scenario-based toolkit designed to help finance professionals translate allyship into concrete actions.
The research report offers an in-depth look at a two-year study that tracked behavioral changes among male finance professionals completing allyship training. The study demonstrated that while 100 percent of participants committed to implementing at least one allyship strategy, sustained organizational change requires more than good intention. Long-term impact depends on action, accountability, and structural support. Further, 85 percent of participants influenced hiring and promotion practices to reduce bias, underscoring the role that middle and senior leaders play in fostering equitable workplaces. Four months post completion, 93 percent of participants continued the allyship efforts they had implemented in their workplace, demonstrating that the right training and reinforcement can propel lasting change.
VersaFi used these findings to develop From Awareness to Action: Allyship for a Gender-Equitable Finance Sector. The toolkit is built with scenario-based learning, which research participants identified as the most effective method for helping finance professionals apply allyship in real-world situations. The toolkit provides strategies for embedding allyship into workplace culture and policy, supporting career development through mentorship and sponsorship, fostering psychological safety, and promoting flexibility. It includes interactive scenarios, self-reflection exercises, and action plans that enable finance professionals to implement allyship in their day-to-day practice and long-term goals.
“This toolkit bridges the gap between intention and impact,” said Tanya van Biesen, President and CEO at VersaFi. “Our research confirms that allyship is most effective when embedded into workplace culture, which was the principal reason for delivering a resource that equips finance professionals with concrete steps to make inclusion a daily practice, not just a conversation.”
Designed for leaders, managers, and professionals across the finance sector, the toolkit provides actionable guidance for those committed to building inclusive workplaces. The research and toolkit together reinforce a critical message: allyship is not just about good intentions, it is about taking real, sustained action.
Both the research report and toolkit are available for download here: From Awareness to Action: Allyship for a Gender-Equitable Finance Sector
For more information, visit versafi.ca.
This initiative was funded by Employment and Social Development Canada’s (ESDC) Workplace Opportunities: Removing Barriers to Equity (WORBE) program. The opinions and interpretations in this publication are those of VersaFi and do not necessarily reflect those of the Government of Canada.
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About VersaFi
VersaFi is a national, not-for-profit organization focused on accelerating equity for women in the finance sector. Founded in 1995 as Women in Capital Markets (WCM), the organization rebranded in 2024 to empower and advocate for women across the finance sector, at all stages of their careers, nationally. It does this by fostering a pipeline of talent at all levels; being the leading voice and advocate for gender equity in the sector; and by working with finance sector leaders to implement impactful and lasting structural and cultural change. Its community has grown to more than 4,000 members across the sector, representing Canadian bank-owned dealers and wealth managers, independent and foreign-owned dealers, asset managers, insurance companies, pension plans, regulatory agencies, exchanges, and advisory firms. To learn more, or to become a member, visit www.versafi.ca.
