Designing a Corporate Social Responsibility Program

Voya Financial helps Americans plan, invest, and protect their savings for retirement. An integral part of Voya is Corporate Social Responsibility (CSR), which is carried out through the Voya Foundation.  The Voya Foundation reinvests in the community through grants for financial and children’s education. In December 2015, Voya’s signature partnership was ending, providing the opportunity for a new CSR program. In order to identify a program framework for Voya’s next CSR initiative, the Capstone team interviewed key Voya staff and professionals, surveyed literature, analyzed data, and created a program design. This data helped Voya to better understand its competitive environment, the leading indicators of retirement readiness, ideal target demographics, and the timeline of when target populations benefit from financial education interventions. Utilizing the previously-described metrics to inform the program design and framework, the team’s report outlines recommendations for the Foundation to write an RFP and find a partner organization to carry out a new financial education signature program.