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Corporate responsibility is a business imperative woven throughout our enterprise. We regard corporate responsibility as an investment in society and in the success of our company. In 2016, we conducted a materiality assessment to refine our approach, to further integrate CR into our business strategy and to have an even greater impact in our communities. The analysis resulted in our new pillars: Empowering our People, Serving Our Clients, Investing in Communities and Protecting the Environment and a direction to focus our efforts. As part of the plan, we established CR Commitments, on which we will base our achievements.

Detailed below are the CR 2020 Commitments, issued in our 2015 Corporate Responsibility Annual Report, and the progress as reported in our 2016/2017 Corporate Responsibility Annual Report. We will measure successful CR performance by our ability to meet and exceed these goals by the year 2020 and will continue to report on our progress and insights annually.

Empowering Our People
2020 Commitments and 2016/17 Progress
Learn more about our commitments and progress
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CR Subpillar CR 2020 Commitment 2016-17 Progress
Company Mission & Values Fully implement the Voya environment and social risk (ESR) policy. As of January 2017, the Voya ESR Policy has been implemented and a repeatable process for continued updates to the Voya Restricted List has been established. The policy sets forth that we abstain from activities with businesses or organizations or make investments in businesses that would violate our corporate key values.
Training & Development Maintain a healthy organization through a high-performance culture that’s continuously improving and focused on doing the right things, the right way.* In 2016, Voya began to further define and articulate our Employee Value Proposition, which encompasses the characteristics, offerings and associations of working for an organization, and rolled out Continuous Improvement (CI) training. The efforts helped build the bridge between business strategy and people, and demonstrated all aspects that promote employees' excitement about where and why they come to work.
Training & Development Work toward all employees receiving a meaningful performance review process that measures and rewards both what employees accomplish (measurable objectives) and how those objectives are accomplished (leadership behaviors). In 2016, Voya introduced a new aspect of the performance evaluation process to all employees, that focuses on both the “what” and “how.” The new how component makes up 30 percent of all employees’ performance scores. In addition, Voya transitioned to Workday for its performance management process to integrate with other work tools, enable single sign-on capability and provide simplified navigation and reporting features. 95 percent of employees completed their mid-year review process and 100 percent of employees completed the year-end process.
Training & Development Develop tools and resources to increase the retirement readiness of Voya Financial employees. Began a financial wellness effort to Voya employees leveraging existing capabilities and new capabilities including seminars and a digital life stage guidance experience. Achieved close to 13,000 employee engagements on digital assets and through multi-channel communications.
Diversity & Inclusion Maintain diversity & inclusion initiatives that align with, and drive, business outcomes. In June 2016, the Executive Committee (EC) committed to moving from the “Developing” stage on the diversity & inclusion (D&I) maturity curve to the “Advanced” stage in three years and “Market Leaders” in five years. In 2017, the top 100 leaders of Voya went through a Conscious Inclusion Learning Experience and a digital version of the Conscious Inclusion Learning Experience is in development and is slated for roll out across the enterprise in Q3 2017.

 

Serving Our Clients
2020 Commitments and 2016/17 Progress
Learn more about our commitments and progress
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CR Subpillar CR 2020 Commitment 2016-17 Progress
Ethical Practices & Principles Maintain training of all employees on Code of Business Conduct and Ethics policy. Within the first week of joining Voya, new employees become familiar with the company’s culture of ethics by certifying they have read and understand Voya’s Code of Business Conduct and Ethics. Additionally, employees are provided with training on an annual basis to keep its guidelines in the front of their minds. In 2016, 100% of employees certified to Voya’s Code of Business Conduct and Ethics. We are proud of our values, standards and reputation for integrity and we are committed to maintaining the trust of our clients every day.
Ethical Practices & Principles Increase investment to ensure transparency of products and services. Planning to begin in 2018.
Responsible/Sustainable Products & Services Provide customers with easy-to-use information and tools through our Connect2 initiatives, including a unified customer view of Voya accounts across the company, financial wellness guidance, improved login experience, and convenient communication through text and video. See the Enterprise Digital Experience and the Financial Wellness stories in in our 2016/2017 Corporate Responsibility Annual Report for details.
Responsible/Sustainable Products & Services Complete Continuous Improvement training and implementation for the remaining identified functions and business lines. By year-end 2017, 95 percent of Voya employees will have experienced the power of CI, through a formal training program, and a new, better way of working. See the Continuous Improvement feature story in our 2016/2017 Corporate Responsibility Annual Report for details.
Stakeholder Engagement Develop and implement a formal process for engaging key stakeholders on corporate responsibility issues. Planning to begin in 2018.

 

Investing in Communities
2020 Commitments and 2016/17 Progress
Learn more about our commitments and progress
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CR Subpillar CR 2020 Commitment 2016-17 Progress
Grants & Charitable Sponsorships Redefine philanthropy goals and measure impacts through defined metrics. Voya Foundation and its partner, Working in Support of Education (WiSE), are developing pre and post-tests to consistently measure our nonprofit partners in the financial literacy space. The exams will include an instructional guide for educators, and will be designed to provide uniform, aggregate measures across all relevant Foundation programs. Our goal is to better understand how well our programs are preparing youth to become financially resilient and to recalibrate where necessary. In addition, Voya Foundation’s STEM partners will all be evaluated by their participants' measured increased in interest in STEM career interest. We have age-specific programs to ensure that our data is reliable and that the impact is meaningful and lasting for the demographic served.

 

Protecting the Environment
2020 Commitments and 2016/17 Progress
Learn more about our commitments and progress
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CR Subpillar CR 2020 Commitment 2016-17 Progress
Operational Efficiency Develop and communicate science-based energy, waste, recycling and/or water commitments. Planning to begin in late 2017.
Operational Efficiency Decrease paper consumption by 30 percent across the company. Since we issued this commitment internally in June 2016, we have decreased paper consumption by 15 percent based on 2015 consumption. We have reduced paper consumption by 74 percent from our benchmark year of 2007, and are on target to meet the reduction target of an additional 30 percent by 2020.
Employee Engagement & Awareness Increase customers' awareness of ways to engage with Voya in an environmentally responsible manner through paperless statement programs. We have completed the data gathering phase and established baselines for our key business units.
Green Supply Chain Programs Develop and implement a code of conduct for suppliers. Completed in May 2017. See our Supplier Code of Conduct website page for details.
Green Supply Chain Programs Educate suppliers about Voya's Environmental Procuremement Policy and assess key suppliers on environmental performance. Mandatory training programs for Procurement staff have been developed and deployment is planned for late 2017. The assessment survey has been drafted and deployment is planned for late 2017/early 2018.
Green Supply Chain Programs Reinforce and fully roll out sustainable print criteria policy (include requirements to use soy-based inks, FSC certified paper and 30 percent post-consumer paper). We established specific sustainability criteria for printing and copying services. The roll-out is planned for late 2017/2018.
Sustainability Industry Leadership Disclose the full scope of relevant greenhouse gas (GHG) data through CDP. Completed in the 2016/2017 Corporate Responsibility Annual Report.

 

Governance
2020 Commitments and 2016/17 Progress
Learn more about our commitments and progress
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CR Subpillar CR 2020 Commitment 2016-17 Progress
Industry Leadership Align reporting of CR performance with internationally accepted standards. Voya is a GRI Standard GOLD member in the Pioneers Program, a training and support program for organizations committed to report against the GRI Standards issued in late 2016. The 2016/2017 Corporate Responsibility Annual Report was prepared in accordance with the GRI Standards Core Option.
Industry Leadership Become signatories to initiatives in areas such as human rights as well as environment, social and governance (ESG) considerations in investing and other areas as appropriate to our business. Planning to begin in 2018.
Industry Leadership Expand the Voya Financial Board of Directors' (via the Nominating and Governance Committee) awareness and engagement in corporate responsibility. To date, the Nominating and Governance Committee has received reports from management on corporate responsibility matters, including previewing and providing comments on our CR annual reports.
Industry Standards Externally assure through third-party verification relevant areas of corporate responsibility annual reports. The 2016 environmental data in the 2016/2017 Corporate Responsibility Annual Report has been externally assured. We will conduct an analysis to determine the necessity to assure other areas of the report.
Industry Standards Issue a human and workplace rights statement and communicate it internally and externally. The statement was issued in September 2016 and made available on voya.com. The policy was communicated internally via a corporate Intranet article and posted in the policy house on the Intranet.