Genworth Financial

www.genworth.com
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There are newer employer reviews for Genworth Financial

2 people found this helpful  

VERY disorganized and chaotic

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

I have been working at Genworth Financial

Pros

The 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.

Cons

Disorganized 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 ManagementAdvice

Get 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.

Doesn't Recommend
No opinion of CEO

246 Other Employee Reviews for Genworth Financial (View Most Recent)

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  1. 1 person found this helpful  

    Great place to work... as long as salary isn't important to you

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

    I have been working at Genworth Financial

    Pros

    There is a strong culture of encouraging advancement and growth. There are always training opportunities to take advantage of, and the education allowance can make getting additional education possible (though it's through reimbursement, so it's not as simple as "free school"). Beyond that, management at every level, and especially at the higher levels, genuinely cares about the employees. The company also does a lot for the community through sponsoring events, charity drives, and encouraging employee volunteer work.

    Cons

    However, and this is a huge however, if you start out in any sort of lower level, then while you CAN move up (and can do so fairly rapidly), your salary will never match market rates because of the caps they place on raises and promotions. Salary increases, even for top performers, are capped at very low levels, and salary increases with promotions are based off of previous salary, not market rates.

    Advice to ManagementAdvice

    Eliminate your rigid compensation guidelines. If you want to retain quality employees, you have to pay them. The current method actually encourages people to leave the company since you're helping them fluff up their resumes but then not paying them anything close to what they could make elsewhere. That makes no sense.

    Recommends
    Approves of CEO
  2.  

    A good place to work

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

    I worked at Genworth Financial

    Pros

    The company offers competitive compensation package and very good benefit including complementary Long Term Care insurance and pension. Typical working hours with good work and life balance. Employees are encouraged to take training. The education support program is excellent, up to $15,000 per year for eligible degree.

    Cons

    The company is not tier one insurance company, therefore, it is challenging to compete with other top tiers competitors. The employees are friendly, but not necessarily competitive or driven by excellence. Performance review was not very helpful in providing feedback or recognize top performers. People who are young and want to grow rapidly may find the company not exciting to work in.

    Advice to ManagementAdvice

    The company needs to develop clear and realistic strategy to compete in the market as a second tier level. I don't think the strategies the Senior Management chose in the past few years were consistent. And I doubt how many employees or even leaders were inspired or even understand the game plan. The company should change mindset from sales number driven, to compete with a holistic and integrated plan with niche products and better execution.

    Disapproves of CEO
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