Genworth Financial
3.0 of 5 173 reviews
www.genworth.com Richmond, VA 5000+ Employees

Genworth Financial Reviews

Updated Jan 18, 2014
Genworth Financial – Richmond – “Genworth Sign”

All Employees Current Employees Only

3.0 173 reviews

                             

79% Approve of the CEO

Genworth Financial President & CEO Thomas J. McInerney

Thomas J. McInerney

(33 ratings)

50% of employees recommend this company to a friend
24 Employee Reviews Back to all reviews
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New CEO may change the culture of the company to a flat org

IT Operations Manager (Current Employee)
Richmond, VA

I have been working at Genworth Financial full-time for more than 5 years

ProsNew CEO Tom is very dynamic and I believe he can influence to change the culture of Managing up

ConsYou get promoted by "who knows who " in IT

Advice to Senior ManagementDon not give a free hand to Managers..have a check so that employees being harassed have a voice

No, I would not recommend this company to a friend

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Operations Manager (Former Employee)
Richmond, VA

I worked at Genworth Financial full-time for more than 5 years

ProsNice campus with an on-site cafeteria.

ConsThere is a toxic corporate culture and although minorities are hired, they are not welcomed and therefore not retained.

Advice to Senior ManagementClean house and bring in consultants to help change the culture. Middle and upper management do not even speak to the front-line staff.

No, I would not recommend this company to a friend

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The most dishonest, valueless, unprofessional, nightmare people Two people committed suicide in the year I worked there.

Long Term Care Insurance Specialist (Former Employee)

I worked at Genworth Financial full-time for more than a year

ProsSome of the other suckers who were 'hired' with blatant lies were decent people.

ConsBait and switch. Hire you to sell long term care and make a LOT of highly appealing PROMiSES regarding salary, leads. The leads have been called 50x and then the new agents who have made an enormous commitment get desperate and are pushed to 'sell to family and friends. Highly immoral people. Hired by a friends friend who would kill her motherfor a nickel. They work you to the bone, they do NOT care LESS about anything other than money

Advice to Senior ManagementHave even a shred of character or values, learn how to MANAGE, tell the TRUTH, do NOT USE people so completely and grow up. Disgusting level. I was an Executive at age 26 and in 40 years of work have never seen a work environment close to this low brow. For shame.

No, I would not recommend this company to a friend – I'm not optimistic about the outlook for this company

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Watch your back at all times

New Business Case Manager (Former Employee)
Phoenix, AZ

I worked at Genworth Financial full-time for more than 3 years

ProsThe annual salary is pretty good, year end raises and bonuses are insulting

ConsManagement is petty and incompetent. All criticism is met with swift retribution. The systems are beyond obsolete. Coworkers are all too happy to stab you in the back at the first opportunity. Many people go on leave to handle the stress. Immoral business practices that are used to create a competitive advantage in the market place. Be ready to work insane amounts of overtime to compensate for the many shortcomings in staffing and system failures.

Advice to Senior ManagementEliminate all of the management and hire a new set with moral fiber.

No, I would not recommend this company to a friend – I'm not optimistic about the outlook for this company

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Interned here for the summer after turning down other offers...worst decision ever

Finance Development Program (Former Employee)
Richmond, VA

I worked at Genworth Financial as an intern for less than a year

ProsNice people to work with

ConsWork was so pointless and easy. Management was not helpful when asking for more work and i felt like i was smarter than most of my co-workers. Co-workers always complained about doing work and sat and did nothing most of day. Terrible pay as well for FDP Program

Advice to Senior ManagementLook to develop more talent instead of hiring random employees to do a job that they are not qualified to do.

No, I would not recommend this company to a friend – I'm not optimistic about the outlook for this company

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If you are looking for advancement in your career don't come here

Anonymous Employee (Current Employee)
Lynchburg, VA

I have been working at Genworth Financial full-time for more than 3 years

ProsThe food is pretty good.

ConsWell, where do I start. If you are looking to move up the ladder you better either be related to someone within the company, be friends with someone with in the company or your not getting anywhere. I have seen too many times NEW HIRES they only have a few months worth of actual "GENWORTH EXPERIENCE" and get promoted over other longer term employees. It was my impression that the Genworth manual states you must be in a position at least 18 months before you can be promoted. However recent and past events have proven that Genworth's Integrity creed turned out to be a bunch of crap!

This is not in any one unit it's across the board from numerous different employee's I have spoken with. They are tired of being overlooked for promotions and raises.

Another thing is they have WAY too many meaningless meetings that provide NO insight and are mostly a waste of time.

The Management expects work to be completed, however when raise time comes along this company generally gives the LOWEST possible raise.

Advice to Senior ManagementTreat Your Employees Better

No, I would not recommend this company to a friend – I'm not optimistic about the outlook for this company

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Resume Stain

Senior Software Engineer (Current Employee)
Richmond, VA

I have been working at Genworth Financial full-time for more than 5 years

ProsSome really great people to work with as long as you don't go too far up the totem pole. Former CEO MDF is now history which was one of the main liabilities of the company. I hear the new CEO is pretty good but he'll need to replace most of the people that are reporting to him.

ConsUnfortunately, for some bizarre reason most of the former CEOs direct reports are still employed. However, I'm hearing that their days are numbered. If you're an IT professional avoid this place like the plague. IT is way under funded and the demands on the individual are unrealistic. If you're a low level pion, expect opportunity for advancement to come in the form of a title with no salary increase or budget to do your job. If you're mid-management expect to be reorganized every six months sprinkled with layoffs in between. Unfortunately, HR ran the last layoff without the input of the managers and the company shed a lot of great people and kept a bunch of deadbeats so HR could meet their quotas and "appear" fair.

If you're desperate enough to work there ask for extra vacation time and a signing bonus. They do this all the time but you have to ask. If you have a high demand skill like an underwriter or an IT professional ask for a one or two year contract. That way, when you get laid off, you'll have something to fall back on. They do this all the time but won't admit to it.

Advice to Senior ManagementFire everyone reporting to the CEO. They all helped to ruin a good company.

No, I would not recommend this company to a friend

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Look Elsewhere

Anonymous Employee (Former Employee)
Stamford, CT

I worked at Genworth Financial full-time for more than 5 years

ProsMostly nice co-workers. Easy commute. Easy work if you do not want to think.

ConsPoorly run company with outdated and irrelevant process. Mid-level managers are not subject matter experts with poor training in managing people and projects. Very narrow minded organization who fears new ideas and improvements and who is intimidated by smart people who look to bring in ideas normal to best practices in other successful companies. Management seems to enjoy chaos, office politics and back stabbing. Definitely not a fit for those who want to work for a cutting edge company. Bureaucratic multi-layered approval process for making simple decisions. Company and mid-level managers to not empower employees to make decisions. Heavy emphasis on reporting and more reporting, meetings to have meetings etc. Results of above are poor earnings, company in decline and high turnover. Either join the group think or you will be odd man out.

No, I would not recommend this company to a friend – I'm not optimistic about the outlook for this company

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VERY disorganized and chaotic

Anonymous Employee (Current Employee)
Richmond, VA

I have been working at Genworth Financial

ProsThe benefits are decent and comparable to other companies, exposure to new technologies within the industry, pay is decent and comparable. A lot of company/team outings and lunches. Community involvement is expected.

ConsDisorganized to the point of being a major hindrance in day to day activities. Management is constantly involved in meetings and provide absolutely no support. Meetings are scheduled to have additional meetings, this can be VERY frustrating! Lack of defined job roles.

Advice to Senior ManagementGet on the ball with job roles. Schedule less irrelevant meetings that accomplish nothing. Provide shorter times to change jobs as poor job fit is a large problem.

No, I would not recommend this company to a friend

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Be Careful...

Actuary (Current Employee)
Richmond, VA

I have been working at Genworth Financial

ProsLots of challenging assignments especially if you speak up and put yourself out there.
Smart, energetic people who are very passionate about their company.
Never a dull moment.
In certain very few places, there are very strong leaders.

ConsThe company is very poorly run with frantic fire drills and erratic decision making. Most of the people at Genworth are miserable, and they've lost faith in senior leadership and the company. People on the outside don't want to join Genworth, so the company has to give them more money than the existing staff, creating inequity for long-time employees. They get rid of quality talent for no apparent reason.
Everyone is simply exhausted.

Advice to Senior ManagementThings need to change at the top. Would suggest that most of senior management moves on, so the Board can change the leadership from the top.

No, I would not recommend this company to a friend

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