Voya Financial launches parental leave planning tool — My Absence Voyage™ — powered by Penguin Benefits
WINDSOR, Conn.--(BUSINESS WIRE)--Voya Financial, Inc. (NYSE: VOYA), announced today a collaboration with Penguin Benefits, a leader in developing innovative software as a service (SaaS) solutions that help demystify parental leave benefits. My Absence Voyage ™ is a comprehensive, easy-to-use planning tool designed to help expectant parents navigate their upcoming leaves of absence. It provides step-by-step guidance to understand available paid and unpaid job protections, alongside other benefits, so expectant parents can make informed decisions about their time off. The tool features the latest information about federal and state benefits, as well as a personalized view of employer-specific offerings. The My Absence Voyage tool is available to employer groups with Voya Leave Management services.
'Parental leave and support remain crucial and highly valued by employees. According to Voya research, 63% of employed Americans are willing to take a job with a slightly lower salary for better leave policies. 1 The addition of a new family member is an exciting time, and Voya's parental leave planning tool is a valuable addition to our Voya Leave Management offering, putting the power of planning at an employee's fingertips,' said Maleiha Russell, VP, Life, Absence and Disability Product, at Voya Financial. 'We understand preparing for parental leave can be a complex and emotional process. Our goal with My Absence Voyage is to provide individuals with the support and resources they need to feel confident and prepared.'
My Absence Voyage can help expectant parents:
Create personalized leave plans: Design a leave plan based on individual needs and circumstances;
Estimate benefit payments: Plan for their absence with an outline of paid benefits available to them, including relevant job protection times; and
Manage the timeline: Receive a checklist to help prepare for each stage of leave.
'At Penguin Benefits, we recognize the importance of bonding time for all parents and their children. When employees can easily access comprehensive leave information, they can make informed decisions that, in turn, benefit employers as well,' said Chengchen 'CC' Li, CEO and founder of Penguin Benefits. 'Through our collaboration, Voya is able to offer employees personalized guidance and support using our cutting-edge platform, which is thoughtfully designed based on deep user research to help simplify and enhance the parental leave planning process.'
As an industry leader focused on the delivery of benefits, savings and investment solutions to and through the workplace, Voya is committed to its purpose of, together, fighting for everyone's opportunity for a better financial future.
Voya Financial Consumer Insights & Research survey conducted Aug. 8-9, 2024, on the Ipsos eNation omnibus online platform among 1,005 Americans aged 18+ in the U.S., featuring 440 working full time or part time.
About Voya Financial ®
Voya Financial, Inc. (NYSE: VOYA) is a leading health, wealth and investment company with approximately 10,000 employees who are focused on achieving Voya's aspirational vision: 'Clearing your path to financial confidence and a more fulfilling life.' Through products, solutions and technologies, Voya helps its approximately 15.7 million individual, workplace and institutional clients become well planned, well invested and well protected. Benefitfocus, a Voya company and a leading benefits administration provider, extends the reach of Voya's workplace benefits and savings offerings by engaging directly with approximately 11.9 million employees in the U.S. Certified as a 'Great Place to Work' by the Great Place to Work® Institute, Voya is purpose-driven and committed to conducting business in a way that is economically, ethically, socially and environmentally responsible. Voya has earned recognition as: one of the World's Most Ethical Companies® by Ethisphere; a listed company on the Dow Jones Best-in-Class North America index; and a 'Best Place to Work for Disability Inclusion' on the Disability Equality Index. For more information, visit voya.com. Follow Voya Financial on Facebook, Instagram, and LinkedIn.
About Penguin Benefits
Penguin Benefits is a leader in developing innovative SaaS solutions designed to demystify parental leave benefits. Leveraging advanced algorithms, Penguin offers a patent-pending tool with a comprehensive view of all benefits available to help employees explore their parental leave options, while providing valuable support for all teams involved in the leave administration process. Learn more about Penguin Benefits at penguin-benefits.com.
My Absence Voyage ™ tool is powered by Penguin Benefits ®.
Voya Leave Management services provided in part by Disability Reinsurance Management Services, Inc.
Insurance is issued by ReliaStar Life Insurance Company (Minneapolis, MN) and ReliaStar Life Insurance Company of New York (Woodbury, NY). Within the State of New York, only ReliaStar Life Insurance Company of New York is admitted, and its products issued. Both are members of the Voya® family of companies. Voya Employee Benefits is a division of both companies. Form numbers, product availability and specific provisions may vary by state.
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