Talent is one of the biggest competitive differentiators for all companies. Ensuring that you have the right employees in the right roles, and that you do all that you can to retain them, is extremely important. However, even if you’re doing all that you can, you will still lose talent, whether to internal promotions or competitors. That’s why talent pipelines and retention strategies are critical — they determine the future face of your market.

Talent is one of the biggest competitive differentiators for all companies. Ensuring that you have the right employees in the right roles, and that you do all that you can to retain them, is extremely important. However, even if you’re doing all that you can, you will still lose talent, whether to internal promotions or competitors. That’s why talent pipelines and retention strategies are critical — they determine the future face of your market.

And, the company doesn’t just conduct talent reviews to get its pipeline ready — it purposefully designs its workforce in other ways that develops employees while keeping them engaged.

  • Voya’s talent acquisition team members know the company inside and out and have a different approach to sourcing the right talent. They search for candidates who understand the company’s expectations and culture. When you get it right from the start, you develop top talent and worry less about retention and performance issues.

  • To attract and retain a workforce reflective of its communities and customers, Voya ensures its benefits, policies and practices reinforce its commitment to inclusion and equitable treatment. The company continually reviews its benefit offerings and accommodations to ensure they cover a broad spectrum of needs — from flexible work schedules and elder back-up care to gender re-assignment surgery. This makes the company competitive in the market, helping to attract and retain great candidates, and increases employee engagement.

  • Voya’s Leadership Model emphasizes key behaviors that help drive execution of its strategy in day-to-day roles. The Leadership Model comprises nine competencies that directly support the strategy as well as the mission, vision and values of the company. It’s fully incorporated into Voya’s performance assessment process at mid-year and year-end, helping the company to correct talent going down the wrong path.

  • Sometimes the next step isn’t always now for an employee, but that doesn’t mean you can’t train him or her to get there down the road. The company’s leadership development program prepares all of its employees to be leaders — and to have the knowledge, ability and awareness to lead in the inclusive Voya way. An internal team delivers more than 100 training programs on an annual basis. In addition, Continuous Improvement (CI) — a philosophy consisting of tools, principles, leadership behaviors, a management system and a business strategy, designed to create a new way of working — training is provided to all employees. CI is an investment in all that encourages creative problem solving as well as improves communication and employees’ focus on common goals.

With all of these factors and a strong succession plan in place, Voya’s business is ready to seamlessly continue even when there’s a significant change or shift in talent. During 2016, Voya promoted and/or expanded twice as many leaders into roles (27%) than hired externally (12%); its senior executive team expanded to 11 members with the promotion of three female leaders and one external female hire; and there was a 34% increase in diversity in the C-suite. In addition, 35% of Voya’s top 200 positions are now occupied by women, and 15% of those positions are occupied by ethnically diverse employees, and the company’s pipeline of key successions for those top 200 roles have 38% female candidates and a 17% ethnic-diversity rate.

A strong culture with diverse talent helps promote problem solving, continuous improvement, idea exchanging, communication and teamwork and, ultimately, creates value for both the business and the community.

As a result of efforts that helped Voya lead a strong and engaged culture, the company has earned several notable accolades that help win business when all else is equal. Like-minded customers are attracted to the companies that have the highest values, ethics and a high-performance culture that agree with their own high standards.

About Voya
Voya Financial, Inc. (NYSE: VOYA), helps Americans plan, invest and protect their savings — to get ready to retire better. With a clear mission to make a secure financial future possible — one person, one family, one institution at a time — Voya’s vision is to be America’s Retirement Company®. Certified as a “Great Place to Work” by the Great Place to Work® Institute, Voya is equally committed to conducting business in a way that is socially, environmentally, economically and ethically responsible and has been recognized as one of the 2017 World’s Most Ethical Companies® by the Ethisphere Institute, as well as one of the Top Green Companies in the U.S., by Newsweekmagazine. For more information, visit voya.com. Follow Voya Financial on Facebook and Twitter @Voya.

Written by Jessica Speziale

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