Genworth Financial
3.0 of 5 173 reviews
www.genworth.com Richmond, VA 5000+ Employees

Genworth Financial Reviews

Updated Apr 8, 2014
Genworth Financial – Richmond – “Genworth Sign”

All Employees Current Employees Only

3.0 173 reviews

                             

79% Approve of the CEO

Genworth Financial President & CEO Thomas J. McInerney

Thomas J. McInerney

(33 ratings)

50% of employees recommend this company to a friend
173 Employee Reviews
Relevance Date Rating
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Review Highlights

Pros:
  • "good work life balance, good compensation"
    in 13 reviews
  • "Great benefits with generous time off"
    in 11 reviews
Cons:
  • "There is no work-life balance - a throwback from the GE mantra"
    in 10 reviews
  • "Upper management decisions on weathering economic downturn resulted in layoff-rehire-layoff strategy"
    in 7 reviews
  • Show more review highlights

Reviews

  • Culture & Values
         
  • Work/Life Balance
         
  • Senior Management
         
  • Comp & Benefits
         
  • Career Opportunities
         
  • Approves of CEO

 

Great people, tough business climate

Anonymous Employee (Current Employee)
Richmond, VA

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

ProsEveryone has great intentions. Good salaries, lots of benefits and focus on employee wellness. New CEO seems to be making a huge difference.

ConsBureaucracy. Declining business.

Yes, I would recommend this company to a friend – I'm optimistic about the outlook for this company

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New CEO may change the culture of the company to a flat org

IT Operations Manager (Current Employee)
Richmond, VA

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

ProsNew CEO Tom is very dynamic and I believe he can influence to change the culture of Managing up

ConsYou get promoted by "who knows who " in IT

Advice to Senior ManagementDon not give a free hand to Managers..have a check so that employees being harassed have a voice

No, I would not recommend this company to a friend

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Cared about employee's quality of work-life

Anonymous Employee (Former Employee)

I worked at Genworth Financial

ProsFortunate to have 2 great managers to work for. Most employees loved working here so much that most new-hires were by internal referrals. Focused on keeping employees happy and healthy.

ConsUpper management decisions on weathering economic downturn resulted in layoff-rehire-layoff strategy. Not a good work environment.

Advice to Senior ManagementHandle employee status with more stability.

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1 person found this helpful  

Recovering from a bad period, Genworth is making huge steps to improve the company and working environment.

Operations (Current Employee)
Lynchburg, VA

I have been working at Genworth Financial as an intern for more than a year

ProsFairly flexible, nice people, most employees have worked there for 5+ years, bankers hours, strong CEO, GREAT career development, room to move up and around, ethical, growing stronger, great company culture, company invests in the well being of their employees.

ConsLower level managers are very week, are not involved with the employees, do not invest in training. Huge quality gap between higher and lower management

Advice to Senior ManagementGet involved with your employees, train lower level managers to be approachable and involved with their employees (or fire them- despite 20+ years of working for you)

Yes, I would recommend this company to a friend – I'm optimistic about the outlook for this company

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Great IT Internship

IT Intern (Former Employee)

I worked at Genworth Financial as an intern for less than a year

ProsEveryone tries to help you succeed
Very open culture
Spoils the interns
Respects the interns

ConsSome of the technologies being used is a little old, but that's not really an issue since most things are becoming more upgraded.

Yes, I would recommend this company to a friend – I'm optimistic about the outlook for this company

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Good Internship

Anonymous Employee (Former Employee)

I worked at Genworth Financial

ProsMany activities for interns if you take the advantage. Also, there are IT, Actuarial and Finance interns so you will meet a lot of people and will have a fun summer.

ConsThe work depends on the area you are assigned to. You might end up having a lot of work while other people might be doing nothing for half the day and you will both be paid the same. The program doesn't recognize people who work hard and those who don't so it just depends how lucky you get with project assignments.

Advice to Senior ManagementIf the company is going through layoffs, why pay interns for the summer to do nothing for half the day. If you are going to have interns, make sure they have things to work on.

Yes, I would recommend this company to a friend

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Good people, terrible management

Actuarial Associate (Current Employee)
Richmond, VA

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

ProsVery 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.

ConsManagement 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 Senior ManagementRecognize the giant holes in the balance sheet and deal with them.

No, I would not recommend this company to a friend

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Fighting back to pre recession strength

Anonymous Employee (Former Employee)

I worked at Genworth Financial full-time

ProsGood Pay and Benefits with a very structured document management

ConsYou can get caught up management fights

Advice to Senior ManagementIt took many years to get in the current situation and turning around is not immediate

No, I would not recommend this company to a friend

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

IT Systems Analyst (Former Employee)
Richmond, VA

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

ProsGreat 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.

ConsFrom 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 Senior ManagementLower 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.

No, I would not recommend this company to a friend – I'm not optimistic about the outlook for this company

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Derivatives at Genworth

Derivatives Analyst (Current Employee)
Richmond, VA

I have been working at Genworth Financial as a contractor for less than a year

ProsGood working enviornment at the Richmond campus.

ConsUnsure direction of the overall corporation

Advice to Senior ManagementManagement should do a better job to embrace contract employees.

Yes, I would recommend this company to a friend

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Genworth Financial – Why Work for Us?

The Genworth story Since writing our first policy in 1871 as The Life Insurance Company of Virginia, we've been committed to helping people effectively protect and achieve the comfort of financial security. Today, even… Full Overview

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