Genworth Financial Reviews

Pros

A job that provides above average benefits in the area where it is located. It offers the chance to pay for additional education.

Cons

Lacks the incentives to strive hard throughout the year when the year end bonus does not account to much and your manager never seems to understand your value and ever has the ability to really grant you a decent raise. What's the point of going above and beyond then?

Advice to Senior Management

Hold lower level management more accountable. Stop toleration of disrespectful people. I.T. Leaders seem to be able to get away with any type of action and sayings with little accountability. Get rid of disrespectful and arrogant people they are a harm to being prodcutive and allowing proper knowledge sharing. Provide an incentive program to really want employees to strive harder - if the incentive money is so low and raises are so low then you will not get people pushing as hard - especially with the way many managers handle performance management and recognition of their employees.

Pros

Employee benefits pretty standard for a large company. health, vision, dental, 401k match, tuition reimbursement other minor perks like gym, childcare, commuting

Cons

Often a disconnect in management communication. This results in inefficient work and back-tracking. The executive team weighs in and further adds to the hodge-podge product.

Advice to Senior Management

Too many cooks in the kitchen. Streamline the approval process and kill all the back-tracking.

Pros

People are open to answering any questions you have, no matter how senior. There is also a lot of opportunity to work on projects not necessarily in your job description.

Cons

Stamford is not the easiest location to get to. Also, Genworth would not be a place for someone who does not deal well with structure.

Pros

Great and flexible hours, low stress work environment.

Cons

There is a lot of rejection associated with the position.

Advice to Senior Management

No advice, they know exactly what they are doing and the best way of doing it.

Pros

Good benefits
Above Avg Salaries

Cons

Lack of consistent strategy
Managers are promoted based on results with no consideration for their ability to lead or develop a staff
Work - No life balance
Very little respect for Employees = Disposable Resources
Poor Recognition and Rewards Bonuses

Pros

Build a career, not just do a job - great opportunities to advance.
My manager is a great coach and mentor.
Good compensation - they are competitive.
I have challenging and meaningful work - I feel what I do makes a positive impact to our customers.

Cons

Decision making is slow... very risk averse company and too many decisions without a clear end approver.
Lack of empowerment to make independent decisions (again, risk averse Insurance company mentality.... unfortunately the culture sometimes rewards inaction and overanalyzing)

Advice to Senior Management

Overall, I am very happy working for Genworth Financial and have been here for many years. Genworth does a great job of giving people a career, not just a job. We also focus a lot of energy on development strong people managers, which is great.

Where I would love Genworth to focus improvement on is being less controlling and centralized, give employees more power to do their jobs and not have to get approval from 20 people and 3 committees on simple things. Also, please stop rewarding the nay-saying overanalyzers and look to encourage the why-nots.

Pros

Lots of opportunities to move within and across functions
T&C's (incl. salary) are good
Good training and development opportunities
Great "international" feel to the business

Cons

Poor decision making - too many committees
US corporate culture is too strong - should try to establish a European culture

Advice to Senior Management

Work on the decision making processes within the company: they are too slow and are too open to being influenced by not wanting to take the "hard" decision

Pros

Genworth is a stable place to work and there was initially great opportunity for advancement. The products and services offered are important.

Cons

There are few rewards and little recognition for a job well done. Pay increases are extremely low, even for performances well above average.

Advice to Senior Management

Front line supervisors are overlooked. It would be great to be recognized or rewarded for a job well done. It would also be nice to earn a salary that is greater than the associates that you supervise.

Pros

Allows people to work remotely.
Benefits and compensation is pretty good.
Worked with a good team within the Marketing Department

Cons

Latest creative manager didn't always communicate with remote users.
5-6 different Chief Marketing Office in 5 years there.
Different departments tend to work in separate silos without communicating with each other on similar projects or initiatives.

Advice to Senior Management

Consistency and transparency between business units and departments.

Pros

The insurance and the benefits are incredible. If you don't ruffle any feathers or question the wrong people you can work there for decades.

Cons

The atmosphere is very, very political. In order to be successful you have to befriend the correct people and voice the correct opinions.

Advice to Senior Management

Listen to lower people on the food chain. The report the higher-ups is giving you isn't always the truth!