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 2017/2018 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 People¹
2020 Commitments and 2017/18 Progress
Learn more about our commitments and progress
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CR Subpillar CR 2020 Commitment 2017-18 Progress
Company Mission & Values Fully implement the Voya Environmental, Social and Governance Risk Policy. As reported in our 2016/2017 CR Annual Report, this commitment is complete.
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.* See the Sustaining a High-performing Culture story in our 2017/2018 CR Annual Report.
Training & Development Work toward all employees receiving a meaningful performance review that measures and rewards both what employees accomplish (measurable objectives) and how those objectives are accomplished (leadership behaviors). See the Sustaining a High-performing Culture story in our 2017/2018 CR Annual Report.
Training & Development Develop tools and resources to increase the retirement readiness of Voya Financial employees. Increased financial wellness learning opportunities for employees with a focus on ways to leverage our products and services, and introduced free access to financial advisors. Launched a personalized and guided education experience for employees and clients as part of a 401(k) participant website. See Financial Wellness Engages Key Stakeholders story in our 2017/2018 CR Annual Report.
Diversity & Inclusion Review Diversity & Inclusion (D&I) strategy and plans quarterly with CR/D&I Executive Council. The first comprehensive strategic review occurred in the first quarter of 2018.
Diversity & Inclusion Develop and implement function- and business-specific D&I plans (Executive Committee level) designed to increase under-representation. Development planned by end of 2018 and implementation planned in 2018-2019.
Diversity & Inclusion Re-launch D&I Employee Resource Groups (ERGs) with the best-in-class goal of 30 percent of the employees registered as members of at least one ERG. ERGs were re-launched in October 2017 with an initial membership at the end of 2017 of 4 percent. As of the end of June 2018, membership was 19 percent.
Diversity & Inclusion Establish partnerships with nonprofit and industry associations dedicated to identifying diverse candidates. Established partnerships in 2018, or prior, with the U.S. Business Leadership Network (USBLN), Toigo Established partnerships in 2018, or prior, with the U.S. Business Leadership Network (USBLN), Toigo Foundation and Morehouse College.
Diversity & Inclusion Ensure diverse slate of candidates presented for all open positions. Implementation planned for end of 2019.
Diversity & Inclusion Conduct Unconscious Bias employee training. In-person training in select areas of the company to begin by end of 2018 and following, to be cascaded throughout the company.

 

Serving Our Clients²
2020 Commitments and 2017/18 Progress
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CR Subpillar CR 2020 Commitment 2017-18 Progress
Ethical Practices & Principles Maintain training of all employees on Code of Business Conduct and Ethics policy. In 2017, 100 percent of employees certified to Voya’s Code of Business Conduct and Ethics.
Responsible/Sustainable Products & Services Provide clients and customers with easy-to-use information and tools across our digital properties to improve their retirement readiness and our disclosure on products and services that is transparent and easy to understand3. In 2017, Voya continued our focus on Financial Wellness programs that assist customers in realizing their retirement goals by providing education and guidance. We launched “personalized videos,” providing a description of individualized myOrangeMoney savings progress along with recommended action steps. In 2018, we developed plans for a digital focus on the retirement sponsor experience to include a case management feature with enhanced reporting and easy access to critical information required to administer plans.
Responsible/Sustainable Products & Services Complete Continuous Improvement training and implementation for the remaining identified functions and business lines. In late 2017, this commitment was completed as all identified functions and business lines experienced CI training.
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 2017/18 Progress
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CR Subpillar CR 2020 Commitment 2017-18 Progress
Grants & Charitable Sponsorships Redefine philanthropy goals and measure impacts through defined metrics. Voya Foundation unveiled its uniform financial resilience impact measurement survey for all relevant partners in 2017. The survey standardizes impact metrics across Voya’s strategic grants, and enables the Foundation to both aggregate its collective impact and compare the successes of partners. Data aggregation across partners is planned for 2018.

 

Protecting the Environment
2020 Commitments and 2017/18 Progress
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CR Subpillar CR 2020 Commitment 2017-18 Progress
Operational Efficiency Develop and communicate science-based energy, waste, recycling and/or water commitments. In 2017 and 2018, explorations began as to the parameters and criteria needed to set commitments. Announcement of one or more commitments is on target for release by 2020.
Operational Efficiency Decrease paper consumption by 30 percent across the company. As a result of our PrintLess campaign, paper was reduced by 31 percent in 2017, thereby meeting this commitment.
Employee Engagement & Awareness Increase customers' awareness of ways to engage with Voya in an environmentally responsible manner through paperless statement programs. After establishing baselines for key business units, Voya paused progress on this commitment in order to focus on higher priorities. A revisit of this project is planned for 2018-2019.
Green Supply Chain Programs Develop and implement a code of conduct for suppliers. As reported in our 2016/2017 CR Annual Report, this commitment is complete.
Green Supply Chain Programs Educate suppliers about Voya's Environmental Procuremement Policy and assess key suppliers on environmental performance. Mandatory training programs for Procurement and frequent purchasers is planned for late 2018-2019.
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). As reported in our 2016/2017 CR Annual Report, sustainability criteria were established. The full roll-out is planned for 2018-2019.
Sustainability Industry Leadership Disclose the full scope of relevant greenhouse gas (GHG) data through CDP. As reported in our 2016/2017 CR Annual Report, this commitment is complete.

 

Governance
2020 Commitments and 2017/18 Progress
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CR Subpillar CR 2020 Commitment 2017-18 Progress
Industry Leadership Align reporting of CR performance with internationally accepted standards. Voya began reporting against the GRI Standards in 2017 with our 2016/17 CR Annual Report. A review of a selection of other standards and frameworks is planned for 2018-2019 to determine those that may be appropriate to incorporate into our strategy.
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. Voya Investment Management became a signatory to the Principles for Responsible Investment (PRI) in 2017.
Industry Leadership Expand the Voya Financial Board of Directors' (via the Nominating and Governance Committee) awareness and engagement in corporate responsibility. Structured engagement of this committee began with the publication of the 2015 CR Annual Report. Further engagement is planned for implementation by 2020.
Industry Standards Externally assure through third-party verification relevant areas of corporate responsibility annual reports. The 2016 and 2017 environmental data disclosed as part of our CR annual reporting has been externally verified. An analysis of the need to externally verify other areas of the report began in 2018, the outcomes of which are expected by 2020.
Industry Standards Issue a human and workplace rights statement and communicate it internally and externally. As reported in our 2016/2017 CR Annual Report, this commitment is complete.
Item List: 

1 The Diversity & Inclusion commitment reported in our 2016/2017 CR Annual Report was revised and expanded into six separate commitments.

2 Commitments 2 and 3 reported in the 2016/2017 CR Annual Report were combined to eliminate overlap and reported as such in the 2017/2018 CR Annual Report.

3 This commitment was revised to include a broader view of our digital transformation work beyond the Connect2 project.