Financial Care 101 — How it can transform the future of benefits: Infograph

We’re transforming financial care in the workplace by getting workplace benefits and savings in sync. Why? So, employers can realize greater value by offering a connected experience that provides employees with a personalized, panoramic view of their financial picture.

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Interested in learning more about how Voya can help you unlock the power of connection? Contact us now.

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What is financial care?

The act of understanding the financial needs of each individual, connecting the bigger picture and providing the right solutions, advice, guidance and support needed to help them make a secure financial future possible. 

3 pros of a connected experience

  1. Improve financial outcomes
  2. Boost employee engagement
  3. Simplify the experience

In a diverse workforce, one size does not fit all

Employees want a seamless, integrated experience to meet their holistic financial wellness goals. Because without a panoramic view of their financial picture, they can go off-track.

  • [image: Joe] Suboptimal decisions now can have long-term financial impacts.
  • [image: Mary] An unforeseen expense can trigger a retirement plan withdrawal.
  • [image: Rosa] Find coverages that can help minimize the financial impact of a covered event.
  • [image: Scott] Health expenses can affect the ability to save for retirement.

Challenge: More benefits & savings choices = confusion

  • Average employee spends just 18 minutes enrolling in benefits.1
  • 89% of respondents simply pick the same health plan they chose previous year.2

Employees want help optimizing their benefit dollars

Hyper-personalized, digital experiences can help employees select options suited to their unique goals.

  • Over half (56%) of employed Americans are extremely or very interested in a “one-stop” mobile app that provides a consolidated view across all of their health and financial accounts.3
  • 62% of employees report they’re more likely to be attracted to another company that cared more about their financial well-being.4

Employers also see the value of a connected experience

98% of employers are interested in an integrated workplace benefits and savings solution.5

Most appealing features of an integrated solution:

  • 54% – Access to a dashboard that holds all employee accounts5
  • 51% – Access to a trusted advisor for determining benefits5
  • 49% – Ability to work with a single point of contact5

Let’s make a difference together.

Contact us today to find out how we can help you sync your workplace benefits and savings program – and realize greater value through a connected experience.

View our latest perspectives paper: “The future of benefits starts with a connected experience

  1. Voya-sponsored AYTM Plan Participant Survey, January 2021.
  2. Health Plan Research, “Understanding the selection and decision-making process;” Key Findings including Discrete Choice Exercise results; Oct. 9, 2020. Conducted on behalf of Voya Financial by Russell Research.
  3. Results of an Ipsos survey conducted March 29-30, 2022, on the Ipsos eNation omnibus online platform among 1,000 adults aged 18+ in the U.S., featuring 520 working Americans.
  4. PWC Employee Financial Wellness Survey, 2018.
  5. Voya Employer Survey, N=253, October 2021.

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