Genworth Financial

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Genworth Financial Reviews

Updated Jul 16, 2014
Genworth Financial – Richmond – “Genworth Sign”

All Employees Current Employees Only

3.0 186 reviews

81% Approve of the CEO

Genworth Financial President & CEO Thomas J. McInerney

Thomas J. McInerney

(36 ratings)

50% of employees recommend this company to a friend

Review Highlights

Pros
  • good work life balance, good compensation(in 13 reviews)

  • Great benefits, generally good people to work with(in 12 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)

186 Employee Reviews
Relevance Date Rating
in
    • Culture & Values
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    Derivatives at Genworth

    Derivatives Analyst (Current Employee) Richmond, VA

    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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    Manager

    Operations Manager (Former Employee) Richmond, VA

    ProsNice campus with an on-site cafeteria.

    ConsThere is a toxic corporate culture and although minorities are hired, they are not welcomed and therefore not retained.

    Advice to Senior ManagementClean house and bring in consultants to help change the culture. Middle and upper management do not even speak to the front-line staff.

    No, I would not recommend this company to a friend

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    • Disapproves of CEO

    1 person found this helpful  

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

    IT Systems Analyst (Former Employee) Richmond, VA

    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

  1. We want your feedback – Are these company reviews helpful to you?  Yes | No
    • Culture & Values
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    2 people found this helpful  

    Genworth is overall a great company to work for, great pay and benefits.

    Financial Analyst (Current Employee) Richmond, VA

    ProsCommunity involvement, Good salary, retirement, benefits, industry knowledge, work life balance in most departments, cafeteria, fitness center, network forums, sport teams, technology up to par. The company has a lot of departments that you can work in and if you apply yourself, network, and make a good name for yourself you could really transition to others roles and really grow.

    ConsWorking in the accounting and reporting department required a lot a of hours and the beginning there was no work life balance. You could easily work 70hrs per week during annual close and it was expected. The controller of the department had favorites and could be really nasty when under a lot of pressure. Most of the members of the team were intimidated by the controller, even the managers. Some days you don't know what mood you would find that person in. Also, there were managers of the department who are micro managers. Meaning if a task is due by the EOD, they would come by your desk 5 times during the day for a status update and ask what you are working on which was really stressful and annoying, especially when you have multiple tasks due the same day. But of course that sort of micro managing starts at the top and trickles down to the analyst which made the morale really low within department.

    Advice to Senior Management1. Develop the soft skills of your management team. If you don't know how to treat your employees with compassion, say Good Morning, operate under pressure with a positive attitude, maintain a pleasant demeanor at all times, then you dont need to be in a position where you manage a large team. Just be good at what you do without having to deal with people, that would be a more suited position for you.

    2. Promote from within. If you feel that an employee who has put in a lot of time within your department but may lack a couple of skills that are needed for promotion. Take the time to develop that person versus discouraging them from applying by saying things like "your not ready" or "the controller doesn't like you so don't even apply" You have caused a lot of quality analyst to leave the department because of that attitude.

    3. Encourage your people to be creative and to think outside the box, versus shutting down every new idea that comes your way. Otherwise the job becomes mechanical and boring.

    Yes, I would recommend this company to a friend – I'm not optimistic about the outlook for this company

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    • Approves of CEO

     

    Business Intern

    Business Intern (Former Employee) Richmond, VA

    Pros-Great opportunity to network
    -Plenty of ways for interns to get involved
    -Overall, a good way to spend a summer gaining experience

    Cons-Not all interns get satisfying work or projects
    -Felt like my skills / time could be better spent
    -Company seems to be going through lots of changes

    Yes, I would recommend this company to a friend

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    Gotta work overtime in LTC to get that Money!

    Benefit Analyst (Former Employee) Richmond, VA

    Prosgreat place to work if you are a yes person.

    ConsSupervisors do not have to be accountable, employees do. Expect just a paycheck for staying current on your work. while those that are behind get to work overtime.

    Advice to Senior ManagementYears of experience do not =management material.hold management accountable and don't always side with the one in management employees can be right too! INTEGRITY AND HONESTY SHOULD MATTER!

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

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    Nice place to work with great people.

    Instructional Designer (Current Employee) Pleasant Hill, CA

    ProsGreat people that work very hard to make things simplified for Advisors. There were good benefits e.g, medical, dental and vision. The reitirement package is nice because they match your contribution right away. I was impressed with the diversity of those in upper management.

    ConsIt may be difficult to move new ideas through upper management. Changes to management and management structure can be swift.

    Advice to Senior ManagementTrust the experience of your employees. New ideas can bring a pleasant change and streamline old processes. Hire managers that know the subject matter.

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

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    1 person found this helpful  

    Great Benefits, but favoritism abounds

    Anonymous Employee (Current Employee) Lynchburg, VA

    ProsOver 20 paid "choice" days off per year, great facilities with on site cafeteria and gyms.

    ConsPay in my area (technology solutions) is abysmal. Colleagues in the same profession at different companies in different cities are being paid nearly twice what I make. Very limited career advancement opportunities due to constant adjusting by management teams.

    Advice to Senior ManagementEnd the favoritism and begin hiring based on qualifications and merit.

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    • Approves of CEO

     

    Great company to work for

    Senior Underwriter (Current Employee) Dallas, TX

    ProsGreat stable company to work for

    ConsContract benefits are expensive especially insurance

    Advice to Senior Managementn/a

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

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    • Disapproves of CEO

     

    The most dishonest, valueless, unprofessional, nightmare people Two people committed suicide in the year I worked there.

    Long Term Care Insurance Specialist (Former Employee)

    ProsSome of the other suckers who were 'hired' with blatant lies were decent people.

    ConsBait and switch. Hire you to sell long term care and make a LOT of highly appealing PROMiSES regarding salary, leads. The leads have been called 50x and then the new agents who have made an enormous commitment get desperate and are pushed to 'sell to family and friends. Highly immoral people. Hired by a friends friend who would kill her motherfor a nickel. They work you to the bone, they do NOT care LESS about anything other than money

    Advice to Senior ManagementHave even a shred of character or values, learn how to MANAGE, tell the TRUTH, do NOT USE people so completely and grow up. Disgusting level. I was an Executive at age 26 and in 40 years of work have never seen a work environment close to this low brow. For shame.

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

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