Genworth Financial

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

 

Good people, terrible management

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

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

Pros

Very good exam support for Actuarial students, on paper, and generous exam raises. Friendly, competent employees at the non-manager level. Generally a polite, respectful culture.

Cons

Management is in continual turmoil. In the last three years, two CEOs (and an interim), two division CEOs for insurance (and the position is currently vacant), and it gets worse further down.

Two decades of mismanagement and aggressive book-keeping means that every quarter is a scramble.

Advice to ManagementAdvice

Recognize the giant holes in the balance sheet and deal with them.

Doesn't Recommend
Neutral Outlook
Approves of CEO

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

Sort: Rating Date
  1.  

    Fighting back to pre recession strength

    • 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

    Good Pay and Benefits with a very structured document management

    Cons

    You can get caught up management fights

    Advice to ManagementAdvice

    It took many years to get in the current situation and turning around is not immediate

    Doesn't Recommend
    Neutral Outlook
    Approves of CEO
  2. 1 person found this helpful  

    Excellent benefits and easy place to work as long as your expectations remain low.

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

    I worked at Genworth Financial full-time (more than 8 years)

    Pros

    Great benefits with generous time off. Salary is competitive and appropriate for the amount of work output. Plenty of "cheerleading" activities attempting to improve employee morale in an environment where the threat of termination is constant and pervasive. Layoffs come in massive waves, so if you survive a round of layoffs, you can be pretty sure of being employed for the next 9 - 12 months.

    Cons

    From a general perspective and an IT perspective, the company is constantly re-inventing the wheel. Motto of Genworth, "If it ain't broke, BREAK it!". Not a lot of job security. If you work at Genworth with the understanding "nobody put a gun to your head to force you to work there", then you'll be fine (my approach for 8 years). If you work there with the expectation your hard work over and above that which is expected will be recognized or get you somewhere, you're at the wrong company. Massive layoffs come regularly every 9 – 12 months. Management regularly fires persons in critical roles (totally oblivious to the responsibilities of that person) and then spends triple the amount of money on contractors replacing that fired individual. Thinking of making a career at Genworth? I’ve worked with 4 individuals personally with 25 - 40+ years of service. I’ve seen those 4 persons given pink slips and walked out the door. For the most part, coworkers are pleasant but the atmosphere is filled with constant angst over always impending layoffs. Despite my seemingly negative comments, Genworth is really not too bad of a place to work as long as you maintain the attitude you could be let go at any minute and you don’t set your expectations within the company too high. I learned a lot professionally at Genworth which made finding my next job after Genworth easy.

    Advice to ManagementAdvice

    Lower and middle management are too isolated from decision-makers to truly impact outcomes. It’s been my observation there are too many lower management roles which could very easily be rolled up to middle managers. I would suggest outsourcing more management jobs to Indian contractors. Lose the "integrity first" slogan.

    Doesn't Recommend
    Negative Outlook
    Disapproves of CEO
There are newer employer reviews for Genworth Financial

Work at Genworth Financial? Share Your Experiences

Genworth Financial

 
Click to Rate
or

Your response will be removed from the review – this cannot be undone.