Voya Financial, Inc., published its 2022 Impact Report, which provides an overview of Voya’s enterprise performance and activities related to corporate responsibility from Jan. 1 through Dec. 31, 2022.
Themed “Clearing your path to financial confidence and a more fulfilling life,” the report illustrates Voya’s commitment and leadership in positively influencing the health and financial well-being of colleagues, clients and communities through innovative programs and initiatives.
“Our impact report reflects our collective commitment across Voya to fulfill our purpose —Together we fight for everyone’s opportunity for a better financial future — by making a meaningful difference in the lives of those who are touched by our business,” said Heather Lavallee, CEO, Voya Financial, Inc. “Thanks to our people, we are well-positioned to accelerate the positive difference we can make in the world together.”
The report describes Voya’s key environmental, social and governance (ESG) highlights throughout 2022, complemented by employees’ perspectives, including:
- Developing our leaders for today and the future:
- The Voya Ambassador Program formalized relationships with nine professional organizations focused on recruiting and educating interns, as well as early-career and experienced professionals, about Voya and careers in financial services.
- Voya launched its Talent Accelerator program to further develop underrepresented talent by increasing their business acumen, leadership skills and networks.
- Voya launched its “Ignite” leadership development program to encourage selected employees to take on new, enterprise-wide roles to further develop leadership skills.
- Focusing on employees’ well-being:
- Voya launched an enhanced parental leave policy that provides 12 weeks of leave for both parents after the birth or adoption of a child.
- Voya implemented programs to begin to mitigate barriers to its employees’ financial well-being, including Voya’s relationship with four education institutions that bill Voya directly to cover 100% of tuition costs, aligning virtual learning with its increasingly geographically dispersed, work-from-home employee population.
- Setting up clients for success:
- Adding to its digital solutions tools to help customers on their path to financial confidence, Voya launched myVoyage to help customers optimize spending across health insurance benefits, emergency savings and saving for retirement, by providing a total view of their “benefits budget.”
- The Voya Retire mobile app went bilingual, giving Voya plan participants the option to view the app in Spanish.
- Through Voya Claims 360, we proactively paid out more than $1 million in Supplemental Health Insurance claims (accident, critical illness/specified disease, and hospital indemnity) to customers who were unaware that they had claims opportunities.
- Investing in our communities:
- Voya’s financial literacy programs, which support organizations that provide financial literacy curriculum training to high-school students, generated on average a 46% increase in understanding of major financial milestones across more than 21,000 beneficiaries in 2022.
- Voya developed a formal supplier diversity program focused on sourcing goods and services inclusively and responsibly to expand our markets and enhance how we serve our customers.
- Voya saw the highest employee participation rate in the history of its annual Employee Giving Campaign, with 81% of employees participating in events to raise awareness about nonprofits — raising more than $5.5 million in donations to charitable organizations (after Voya Foundation matches).
- Voya Cares sponsored The Harkin Institute’s research paper underscoring the value to companies and communities of competitive, integrated employment (i.e., the same rate of pay and benefits) for people with disabilities as for workers who do not have disabilities.
- Voya Cares, in collaboration with the National Down Syndrome Society, awarded a $10,000 Entrepreneur Grant to a disability-owned small business, and continued to raise awareness about the thriving entrepreneur community with Down Syndrome.
- Building on our strong corporate governance model:
- The Voya Board of Directors comprises a highly skilled group of individuals representing a diversity of experiences, industries, backgrounds, tenures, genders and races/ethnicities, with three of six Standing Board Committees chaired by women in 2022.
- A commitment to business ethics — reinforced by Voya’s policies, procedures, and regulatory monitoring and reporting — continues to be integrated in all areas of Voya’s ESG practices.
- Minimizing Voya’s environmental impact:
- Voya’s hybrid-work program has enabled the company to open positions around the country and allowed the company to reduce office space to operate more efficiently.
- As the result of Voya’s Earth Week challenges, more than 27,000 pounds of carbon dioxide (CO2) and more than 20,000 gallons of water were saved, and more than 1,600 pounds of waste was diverted from landfills.
Voya’s 2022 Impact Report was prepared in accordance with the Global Reporting Initiative (GRI) standards, and a digital copy can be found on Voya.com.
