Genworth Financial

www.genworth.com
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Genworth Financial Reviews

Updated February 20, 2015
Updated February 20, 2015
75 Reviews
4.0
75 Reviews
Rating Trends

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

Review Highlights

Pros
  • Genworth takes seriously the work life balance and community involvement (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

75 Employee Reviews Back to all Reviews

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  1.  

    Great experience but...

    Current Employee - Anonymous Employee
    Current Employee - Anonymous Employee

    I have been working at Genworth Financial

    Pros

    I think experiences differ a lot depending on what part of the company you are with. I'm at headquarters in Retirement & Protection. Great people, lots of smart, thoughtful coworkers and managers. Just about everyone here works hard, but there's still a good work/life balance.
    The work is challenging and meaningful and the benefits are top notch. Salaries are very fair. They also strongly encourage and support further education, taking classes, internally and externally. Most teams are strong and effective and senior leadership has worked hard to advance a good culture in the workplace.

    Cons

    The company seems trapped in a very stressful cycle of ups and downs. In the downs there are layoffs, budget cuts, and it's difficult to get resources. On the ups, they over hire and tend to get bottom and middle heavy. There's too many meetings, more micromanagement than there should be, and they have a very hard time breaking away at all from a conservative attitude. The building is getting to be in poor shape as well.
    Probably one of the biggest problems is that it's very hard to break out of your hiring band designation, and for many people there's few opportunities to advance.
    Additionally there's often little role clarity and as a result there's clashes and confusion over ownership of projects.

    Advice to ManagementAdvice

    Spend money more carefully - learn from past mistakes and stay lean. Update titles so it's clear what people's roles are, make an org chart and have it easily available. Help find solutions when employees who are top performers are stuck long term with no advancement opportunities. Senior leadership has improved but still needs to communicate better with staff.

  2.  

    Best company ever

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Former Employee - Business Analyst in Raleigh, NC
    Former Employee - Business Analyst in Raleigh, NC

    I worked at Genworth Financial

    Pros

    The management staff is outstanding.

    Cons

    It's hard to manage a work life balance

    Recommends
    Positive Outlook
  3.  

    Good Working Culture

    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Current Employee - Quality Analyst in Lynchburg, VA
    Current Employee - Quality Analyst in Lynchburg, VA

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

    Pros

    Flexible Hours, cooperative culture, Work Life Balance.

    Cons

    Salary, need rigorous learning/training plan

    Recommends
    Neutral Outlook
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  5. 1 person found this helpful  

    Engaged team, rewarding work with opportunities to grow and develop.

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

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

    Pros

    Lots of opportunities to challenge yourself and add value to the organization. Enjoy the people as well as how involved we are in the community.

    Cons

    Challenging business performance due to complexity of the industry.

    Recommends
    Neutral Outlook
    Approves of CEO
  6.  

    Intern

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

    I have been working at Genworth Financial as an intern (less than a year)

    Pros

    The work culture is great. Everyone in the office is very personable. The perks as an intern are a lot of fun and everyone gets jealous, which is pretty cool. You certainly are given an extensive overview of the Insurance world.

    Cons

    Not 100% busy all of the time. The growth through the company seems to take a few years to progress.

    Recommends
    Positive Outlook
    Approves of CEO
  7.  

    Great place to work, conservative work culture and not cutting edge though

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

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

    Pros

    Standard pay and benefits
    Team culture
    Volunteer activtities

    Cons

    Takes 5 committees to approve a decision
    Overly Conservative
    Top management takes good care of top management - could place greater time and focus on lower levels

    Advice to ManagementAdvice

    Takes 5 committees to approve a decision
    Overly Conservative
    Top management takes good care of top management - could place greater time and focus on lower levels

    Doesn't Recommend
    Neutral Outlook
    No opinion of CEO
  8.  

    Making a come back

    • 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 (more than 10 years)

    Pros

    Great benefits, if you are willing to learn they provide the opportunities, constantly striving to change for the better and balance business needs with customer needs.

    Cons

    Some favoritism still exists amongst employees and not all managers are on the same page yet about doing what's best for the customer.

    Recommends
    Positive Outlook
    Approves of CEO
  9.  

    Overall positive..cares about employees

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

    I have been working at Genworth Financial full-time (more than 10 years)

    Pros

    Great flexibility, wonderful values, respect for work-life balance, great positive can do attitude is fostered.

    Cons

    Lack of skilled trained management at mid level. Personal growth is challenging unless you spend a lot of time in the home in the Raleigh office. Training Dept doesn't understand the functions well enough to offer well designed training. "Problem" employees are tolerated rather than dealt with...morale is impacted.

    Recommends
    Positive Outlook
    Approves of CEO
  10.  

    A Breath of Fresh Air

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

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

    Pros

    Genworth is dedicated to providing a diverse and inclusive workplace. At Genworth, my hard work and enthusiasm is recognized and my opportunities for growth are endless. My leaders are there to assist in navigating my career and are enthusiastic about my personal and professional growth.

    Cons

    If I could change anything about Genworth, it would be that current employees be able to compete for intern positions if they have the desire to change fields.

    Advice to ManagementAdvice

    My advice to management is to continue to be invested in your employees and their development. Assisting others in their growth is what will continue to make us all successful.

    Recommends
    Positive Outlook
    Approves of CEO
  11.  

    Genworth Financial's Review

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

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

    Pros

    Genworth has great benefits, people and opportunities. Employees are given the flexibility to experiment, make mistakes and work flexible schedules that accommodate their lifestyles. Genworth does a good job of tapping into talent and maximizing the potential of their employees. There is room for growth and people are genuinely trying to do the right thing. Salaries are competitive.

    Cons

    The physical offices are not in great shape and don't foster creativity or employee retention (Richmond and Lynchburg offices). Especially compared to local competitors such as Capital One. Many folks are still stuck in the "GE" mentality and the culture is resistant to change and new ideas at times. The company is not cutting edge when it comes to technology and ways of thinking, although we have come a ways in the past few years. Getting resource and surge support is not easy and money and resourcing allocation seems random rather than strategic. Genworth is a delivery and execution focused company--they lack strategic focus and regularly work on projects without goals, metrics, audiences, etc. Genworth is not very early career friendly, but they do offer several development and internship programs to get your foot in the door. Genworth doesn't typically terminate people for poor performance (or for "going against the grain"). It can be based on tenure and likability which is not a great business model.

    Advice to ManagementAdvice

    Be open to change and new ways of thinking. Start with a problem and a strategy first rather than beginning with solutions. Actually get rid of people who are not aligned to objectives, processes and are on their own agendas. Don't take risks and guess what our customers want -- actually do the research and due diligence first before building a solution. Create better avenues for early career associates, especially those new to Richmond to retain them.

    Recommends
    Positive Outlook
    Approves of CEO

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