Genworth Financial

  www.genworth.com
  www.genworth.com

Genworth Financial Reviews

Updated November 19, 2014
Updated November 19, 2014
232 Reviews
3.3
232 Reviews
Rating Trends

Recommend to a friend
Approve of CEO
Genworth Financial President & CEO Thomas J. McInerney
Thomas J. McInerney
54 Ratings

Review Highlights

Pros
  • Additionally, the work-life balance is pretty good with 8 (in 17 reviews)

  • Great benefits, generally good people to work with (in 15 reviews)


Cons
  • There is no work-life balance - a throwback from the GE mantra (in 10 reviews)

  • It may be difficult to move new ideas through upper management (in 8 reviews)

More Highlights

63 Employee Reviews Back to all reviews

Sort: Popular Rating Date
  1.  

    Not too bad for an insurance company

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Current Employee - Anonymous Employee
    Current Employee - Anonymous Employee

    I have been working at Genworth Financial full-time

    Pros

    Smart, bright people work there... most are friendly and helpful
    Reasonable benefits and compensation
    Focus on volunteerism is decent

    Cons

    Still a lot of political maneuvering
    Slow to make the necessary changes at senior levels... too quick and not enough care to retain at middle management
    Starting to view everyone other than senior managers as 'replaceable'

    Advice to ManagementAdvice

    Value your middle management level more... especially those who are doing the best for their people and the business

    Recommends
    Neutral Outlook
    Approves of CEO
  2.  

    Okay to work

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Current Employee - Systems Architect in Raleigh, NC
    Current Employee - Systems Architect in Raleigh, NC

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

    Pros

    Bonus and decent incentives to work

    Cons

    Leadership lacks vision to be the industry leader

    Doesn't Recommend
    Positive Outlook
    Approves of CEO
  3.  

    Talent Management at Genworth

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Former Employee - Finance in Richmond, VA
    Former Employee - Finance in Richmond, VA

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

    Pros

    Due to the prior parent company, GE, you will get to meet some interesting and smart people. Additionally, the work-life balance is pretty good with 8.30 - 6pm working hours usually.

    Cons

    Unfortunately, the company does not reward talented individuals and is primarily focused on the 'tenure' of the employee. For example, you are doing the same exact job as another individual but you only have 5 years of professional experience versus their 15, and as a result your pay rate is significantly different. Knowing that, the company makes no effort to equalize the pay through raises or bonuses.

    When I left (~2010), there were very few individuals in management that I respected because they would talk about valuing their people, and then not show it through compensation or additional benefits

    Advice to ManagementAdvice

    Young talent can be the life blood of an organization and be the new energy that is needed to transform and energize the company - don't value 'years worked' over 'talent'. There will be some young people who are actually better than those who have been at the company for a long time - find a way to reward them and keep them.

    Doesn't Recommend
    No opinion of CEO
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  5. 2 people found this helpful  

    Great people, management is turning over - hopefully for the better.

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Current Employee - Anonymous Employee in Richmond, VA
    Current Employee - Anonymous Employee in Richmond, VA

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

    Pros

    Most of the employees I work with a good, solid, smart and engaging. Benefits are good, one of the best paid employers in the Richmond area.

    Cons

    This company has been in flux since the financial crisis in 2008. Some months it feels like we are headed in the right direction, others, not so much.

    Advice to ManagementAdvice

    Pick a track and stick with it, this company could be one of the greats - the talent is there it just needs the right direction without all of the distractions and pet projects.

    Recommends
    Neutral Outlook
    Approves of CEO
  6.  

    Decent place to work.

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Current Employee - IT Solutions Architect in Lynchburg, VA
    Current Employee - IT Solutions Architect in Lynchburg, VA

    I have been working at Genworth Financial full-time (more than 8 years)

    Pros

    Opportunities for career growth if you are motivated and work hard. There is a renewed focus on company culture and experience.

    Cons

    Many changes over the past 5 or so years, including reorgs and layoffs. Heavy reliance on contractors in IT.

    Advice to ManagementAdvice

    The new CEO and leadership is doing the right things to steer the company forward. Keep it up!

    Doesn't Recommend
    Positive Outlook
    Approves of CEO
  7.  

    Change is constant

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Former Employee - Anonymous Employee
    Former Employee - Anonymous Employee

    I worked at Genworth Financial full-time (more than 10 years)

    Pros

    Good benefits and ok pay

    Cons

    Leadership accountability and alignment is lacking

    Advice to ManagementAdvice

    One of the few solid employers in Richmond, VA - hold on to your good people.

    Recommends
    Neutral Outlook
    No opinion of CEO
  8. 1 person found this helpful  

    I am currently in sales with Genworth and more than a little frustrated with opportunities within this role.

    • Comp & Benefits
    • Work/Life Balance
    • Career Opportunities
    Current Employee - Anonymous Employee in Richmond, VA
    Current Employee - Anonymous Employee in Richmond, VA

    I have been working at Genworth Financial full-time (more than an year)

    Pros

    Community Relations/Volunteer Opportunities, Tuition Reimbursement, Co-workers

    Cons

    Lack of development opportunities within organization, inconsistent rates/products to offer making it challenging to maintain customer relationships, revolving door leadership

    Advice to ManagementAdvice

    Engagement from middle and lower management. Senior management does a good job but as you go down the chain, those leaders don't do as well as reinforcing the values and vision.

    Recommends
  9. 2 people found this helpful  

    Old values a change needs to come

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Former Employee - Anonymous Employee
    Former Employee - Anonymous Employee

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

    Pros

    Good Salary, bonus and additional compensation
    Diverse work culture

    Cons

    The company had some really old boy values. The best person for the job was not always promoted it was more, who like you. I have know people to quit due to lack of advancement.

    Advice to ManagementAdvice

    I understand there is a new CEO. In order for the company to advance there may need to be a change in the other guards.

    Recommends
    Negative Outlook
    No opinion of CEO
  10.  

    3rd tier insurance company, not looking to be top tier. Lack of effort by management to incent employees.

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Former Employee - Vice President in Stamford, CT
    Former Employee - Vice President in Stamford, CT

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

    Pros

    I got a pension contribution each year. Most of the time not huge micro management but that was changing. Top down nice focus on philanthopy and active charity involvement of all employees--- Heart.

    Cons

    lack of flexibility, no desire to grow the business, try new things to change growth trajectory of the business.

    Advice to ManagementAdvice

    Look to grow and adapt to changing business environment.

    Doesn't Recommend
    Neutral Outlook
    No opinion of CEO
  11.  

    One of the top mortgage insurance companies

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Former Employee - Anonymous Employee
    Former Employee - Anonymous Employee

    I worked at Genworth Financial full-time

    Pros

    For the most part, a fairly bright bunch with some exceptions as can be expected in a bigger organization. There are a lot of people there who have been in the business for a long time and have a strong understanding of the business. Fairly strong business and legal controls.

    Cons

    Job and career growth opportunities are somewhat limited at this time. There are a number of new mortgage insurance companies getting into the industry and this will add additional competitive pressure.

    Neutral Outlook

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