tablet showing financial wellness screen

Voya’s Financial Wellness Offering

Voya’s financial wellness program can help your employees reach retirement on time with preventive care for their finances

Life is full of ups, downs and unexpected situations—none of us planned to experience a global pandemic. Without preparation and an ability to absorb shock, these events can lead to financial stress and an off-track retirement.

Financial stress in the workplace

Financial stress, caused by financial unwellness, is overwhelming workers. In fact, financial stress is the leading stressor in the workplace—more than all of the other stressors combined.

This workplace reality affects the way your employees feel, how your employees perform, and ultimately, your organization’s bottom line.

Financial stress impacts:

The bottom line of financial wellness

Employees are looking for their employer to help them reach a better balance when it comes to their finances.

An effective financial wellness program helps address the financial roadblocks that can form when unexpected life events happen, so your employees can be—and feel—ready for the future they envision.  

Guiding principles of Voya’s Financial Wellness Program 

Financial wellness solutions must be designed with your employees in mind

Financial wellness is a lifelong journey that is about tradeoffs. Rather than providing a series of independent solutions, we believe that we can better serve your employees with a straightforward and integrated financial wellness experience that enables them to see their complete financial picture and take their next-best action accordingly. To achieve this goal, Voya’s Financial Wellness program revolves around six key pillars.

Six pillars of financial wellness

These are the areas we believe are foundational to money health and necessary to making an on-time retirement possible.

Our offering is only meaningful if we can prove that we are positively impacting outcomes

By leveraging what we know about your employee population, consumer research, findings from The Voya Behavioral Finance Institute for Innovation, and digital insights, our financial wellness experience is designed to effectively:

Voya’s integrated financial wellness offering can drive outcomes

Here is an introduction demonstrating how our financial wellness program can help your employees:

Voya Enroll Experience

We leveraged behavioral finance findings from The Voya Behavioral Finance Institute for Innovation to make what feels like the easy choice also the optimal choice. Our recent design of Voya’s enrollment experience infuses science-based language, color selection, information architecture and other features to prevent opt-outs, encourage engagement and ultimately boost savings rates.

Voya’s myOrangeMoney Experience*

Voya’s myOrangeMoney® online educational experience helps participants stay engaged and tuned into their retirement outlook. This interactive experience makes it easier to estimate income needed for retirement and to make positive changes today.

Voya’s Financial Wellness Assessment*

Voya’s Financial Wellness Assessment consists of a brief set of core questions that are aligned with the six pillars of financial wellness and vary based on life stage and job status (working, not working, retired). After completing the assessment, employees receive a personalized summary of their results in real time. The user-tested and easy-to-interpret scoring system makes it easy to understand where they are today and what they can do to improve their financial situation.

To browse our comprehensive financial wellness offering, click here to view our complete brochure.  

Robust reporting and insights to help maximize every benefit dollar and get your employees financially well

Our goal is to get 100% of your employees to retire with at least 70% of their pre-retirement income. To do so, our plan reporting data allows us to understand where your employees need help today, so we can provide the right financial care and solutions to help make a financially secure future possible. Furthermore, we track key leading indicators—engagement, guidance, and action—to help ensure we are maximizing effectiveness along the way.

Financial Wellness reporting

And the results are telling.

Results. In numbers. 

 

 

 

 

 

Are you ready for Voya to make a measurable difference in your organization?

Download the Voya Financial Wellness Capabilities brochure and reach out to your Voya Relationship Manager to learn more about financial wellness.

 

*IMPORTANT: The illustrations or other information generated by the calculators are hypothetical in nature, do not reflect actual investment results, and are not guarantees of future results. This information does not serve, either directly or indirectly, as legal, financial or tax advice and you should always consult a qualified professional legal, financial and/or tax advisor when making decisions related to your individual tax situation.

Neither Voya® nor its affiliated companies or representatives provide tax or legal advice. Please consult a tax adviser or attorney before making a tax-related investment/insurance decision.

Products and services offered through the Voya® family of companies

1 PWC Employee Financial Wellness Survey, 2018.

2 Voya internal data, Digital Solutions data as of 6/30/2019; 7.4% average savings rate in new web experience vs. 5.3% before.

3 Voya internal data, Digital Solutions data includes retirement plan sponsored business as of 12/31/2018, 7.1% vs 9.0%. 

4 Voya internal data, as of 12/31/19.

5 Voya internal data, Tableau Report as of 1/16/2020


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