IM employees completed Enneagram training
CFA Investment Foundations certificate holders/candidates
We believe superior human capital management is a key component to a high level of corporate performance. We are differentiated by our talent review process, leadership development, succession planning and, in our Investment Management business, personality assessments and essentials of finance training for employees in non-financial roles.
Sustaining a High-Performing Culture
Human capital is key to fostering Voya’s high-performance culture. Our talent review process is focused on putting the right people in the right positions at the right time to build a sustainable leadership pipeline. To do this, our succession planning activities include:
- Ensuring that we have the best possible talent in key business success-critical positions.
- Assessing our leaders based on leadership competencies, focusing on both the “what” and the “how”.1
- Creating succession plans for key critical roles.
- Identifying, developing and retaining a diverse pool of top talent, rising stars and emerging leaders.
- Increasing talent management capabilities of business leaders and HR staff through the use of common tools and language.
- Validating talent review processes for consistency and calibrating top talent across Voya’s businesses and functions.
We focus on key outcomes stemming from the following:
- SWOT (strengths, weaknesses, opportunities, threats) analysis in each major business and function.
- Succession plans for the top four layers of the organization (and mission-critical positions) including scans of potential external candidates in the event of turnover.
- Determination of top internal talent with the highest performance and potential for growth.
- Vulnerability analysis to assess leaders with the highest flight risk and impact of departure.
Our philosophy is to hire the best person for the role by first looking internally, but also to look externally to ensure we have a balance between internal talent with institutional knowledge and external talent with a different perspective. We have found that this balance produces a culture of continuous improvement.
Our goal is to make leadership development an integral part of personal career development and employee engagement, ultimately improving our business performance.
In 2019, 100 percent of employees completed their mid-year review process, and 95 percent of employees completed the year-end process.
Voya Investment Management Develops Well-Rounded Employees
At Voya, diversity includes and goes beyond gender, religion, sexual orientation and race. It encompasses the differences with which we are born and those we acquire throughout our lives. Diversity of thought is a key component to both empowering our people and better serving our clients. Our Voya Investment Management (IM) business lives this principle every day.
Voya IM differentiates itself from other asset management organizations through its focus on tuition reimbursement, manager development, robust succession planning and performance management programs focused on both “what” employees accomplish and “how” they accomplish it. In addition, two new key initiatives emphasize our continual investment in our greatest asset – our people.
Launched three years ago, the Enneagram personality assessment helps IM to better understand team dynamics. Individuals within a team are assessed via an online inventory and gain an understanding of motivations, core values and blind spots of nine different personality types. With this data, teams better understand the different styles of their teammates and themselves, and can apply this knowledge to the creation of an inclusive environment where we embrace and leverage the diversity you see and diversity of thought.
They learn how to do the following:
- Effectively leverage different personalities to accomplish goals.
- Determine the most effective communication modes to reach people in each personality type.
- Round out project teams with diverse personality types to foster innovative client solutions.
As of December 2019, 71 percent of IM's employees have completed an Enneagram training session, with plans to continue to roll out this program across the remaining employee population.
In addition, IM believes in empowering employees at all levels and functions to better succeed in the challenging world of asset management. To complement the program that sponsors employees who want to earn their Chartered Financial Analyst (CFA) certificate, in 2017, IM launched the CFA Investment Foundations program, offering financial education to IM professionals outside of investment teams.
The program features both online and in-person modules targeted to employees in information technology, human resources, legal, marketing and other functional departments. This six-month intensive education is designed to provide participants with a clear understanding of the essentials of the investment management industry. The program covers seven topic areas across 20 chapters and culminates with a comprehensive knowledge exam offered by the CFA Institute. As of December 2019, Voya IM had 121 CFA charterholders and over 141 employees who have either earned, or are in the process of earning, their CFA Investment Foundations Certificate.
1 In 2012, we introduced leadership competencies — where performance is measured by “what” objectives employees achieve as well as by “how” those objectives are accomplished. In 2016, we rolled that out to employees at all levels. In 2017, we encouraged a focus on performance, coaching discussions and development plans.