Employee engagements in financial wellness education
Financial Wellness Program Yields Effective Results
Our core mission at Voya is to make a secure financial future possible for the lives of all Americans by helping them plan, invest and protect their savings so they can retire better. While retirement may be the ultimate financial goal for many people, more immediate life events can affect an individual’s ability to save for retirement. A focus on financial wellness is critical to the achievement of any financial plan at every stage of life.
Financial wellness is about the healthy balance between living for today while preparing financially for tomorrow. It’s not necessarily about being wealthy. It’s about achieving a state of well-being where people live within their means, feel confident in their future, are prepared for the unexpected, and have the ability to indulge and enjoy living in the moment.
At Voya, we believe there are six pillars of our financial life that need to be contemplated in any financial plan:
- Spending and Saving
- Emergency Savings
- Debt Management
- Other Savings Goals
We continue to evolve our financial wellness capabilities around these pillars, combining engagement tactics, education, holistic financial guidance (through coaches and advisors) and product solutions to help participants improve their financial health today and be more prepared for the future.
We launched a renewed effort around financial wellness for our own employees that incorporated our current industry-leading resources along with the release of new capabilities including financial wellness seminars.
The impacts were immediate, with over 10 percent of our employees registering for seminars and 87 percent of those attendees indicating they would recommend it to a friend or colleague.
Helping improve the financial wellness of our employees and customers is foundational to delivering on our promises and improving the quality of life for all Americans.