Genworth Financial Reviews

Updated March 24, 2015
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3.1
253 Reviews
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Genworth Financial President & CEO Thomas J. McInerney
Thomas J. McInerney
65 Ratings

Pros
  • Genworth takes seriously the work life balance and community involvement (in 17 reviews)

  • Great benefits, generally good people to work with (in 15 reviews)

Cons
  • There is no work-life balance - a throwback from the GE mantra (in 10 reviews)

  • It may be difficult to move new ideas through upper management (in 8 reviews)

More Pros and Cons

Employee Reviews

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  1. 2 people found this helpful

    Great experience but...

    Current Employee - Anonymous Employee
    Current Employee - Anonymous Employee

    I have been working at Genworth Financial

    Pros

    I think experiences differ a lot depending on what part of the company you are with. I'm at headquarters in Retirement & Protection. Great people, lots of smart, thoughtful coworkers and managers. Just about everyone here works hard, but there's still a good work/life balance.
    The work is challenging and meaningful and the benefits are top notch. Salaries are very fair. They also strongly encourage and support further education, taking classes, internally and externally. Most teams are strong and effective and senior leadership has worked hard to advance a good culture in the workplace.

    Cons

    The company seems trapped in a very stressful cycle of ups and downs. In the downs there are layoffs, budget cuts, and it's difficult to get resources. On the ups, they over hire and tend to get bottom and middle heavy. There's too many meetings, more micromanagement than there should be, and they have a very hard time breaking away at all from a conservative attitude. The building is getting to be in poor shape as well.
    Probably one of the biggest problems is that it's very hard to break out of your hiring band designation, and for many people there's few opportunities to advance.
    Additionally there's often little role clarity and as a result there's clashes and confusion over ownership of projects.

    Advice to ManagementAdvice

    Spend money more carefully - learn from past mistakes and stay lean. Update titles so it's clear what people's roles are, make an org chart and have it easily available. Help find solutions when employees who are top performers are stuck long term with no advancement opportunities. Senior leadership has improved but still needs to communicate better with staff.

  2. Genworth Review

    • 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 (more than 5 years)

    Pros

    Excellent pay for IT professionals; committed to community involvement projects and charities

    Cons

    No career development or chance for promotion; low pay outside of headquarter functions; difficult work/life balance (long hours)

    Advice to ManagementAdvice

    Set clear career paths; develop people to be the future leaders- look for talent internally

    Doesn't Recommend
    Neutral Outlook
    Approves of CEO
  3. Luke warm

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Current Employee - Anonymous Employee
    Current Employee - Anonymous Employee

    I have been working at Genworth Financial

    Pros

    The people are fantastic. Very smart, professional and easy to collaborate with.

    Cons

    Management has no clue what they are doing and have a tin ear to associates concerns. It has gotten better over the past few years but that progress was derailed by bad decisions from the past come back to haunt them.

    Doesn't Recommend
    Negative Outlook
    Approves of CEO
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  5. 1 person found this helpful

    It's ok, but...

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Current Employee - Anonymous Employee
    Current Employee - Anonymous Employee

    I have been working at Genworth Financial

    Pros

    If you are fortunate enough, you will encounter some awesome people that truly have your back and will help you with your career path.

    Cons

    Too many unknowns (random re-orgs/layoffs)

  6. 1 person found this helpful

    Company is confused.

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

    I have been working at Genworth Financial full-time (more than a year)

    Pros

    All major holidays off. Richmond campus is beautiful and has families of geese and fountains. Work is generally 40 hrs a week, but that is subject to change based on your manager or work preferences. Co-workers are generally pleasant and fairly laid back. Big focus on encouraging "diversity". The Richmond campus has a gym and a doctor's office on site.

    Cons

    For me, the cons of this job and environment really outweigh the pros. What follows is a review of what I have observed and experienced:

    1. In order to maintain a flow of young, workaholic, brainwashed talent, Genworth trains fresh college graduates through an "IT development program". They work in 4 different areas over 2 years and are then dumped straight into a management position. In IT, this means that your manager will probably have no other experience outside of Genworth. It also places you at a disadvantage because assuming you have come from another company, you are not are familiar with the Genworth universe and are effectively an outsider. Management is generally young and overly confident because this is all they know, but they've also been taught that all their hard work will be rewarded (their hard work, not yours), and they tend towards over achieving. For example, my manager refuses to hand projects off and insists on doing everything himself. He will hand off to his underlings when he either doesn't want to do it or has already set the stage and you can't muck it up. Rather than trust those he pays, he obsessively re-checks all our work to make sure we're not missing anything, implying that we are not competent.

    2. Management is comprised of workaholics and there are far too many managers. I have routinely observed several of them working 10-12 hour days. Management's major concern is preserving itself at all costs, which is leading to layoffs and outsourcing for the little people, while management shrugs their shoulders and tells you they just don't know how the instability happened. Management also frequently does not have a plan to move forward successfully. There are multiple C-level managers for the different branches, which seems to make things unnecessarily complicated and weirdly competitive. One of the managers I know loves to tell his people that "they should have enough work to make them keep their head down all day" and gets upset when his employees chat with each other because it’s not being productive.

    3. Management is inconsistent. Here's the best way I can summarize this: if you have ever seen the movie "Office Space", my manager is exactly like Jennifer Aniston's manager, Stan. If I do the required amount of work, it's either somehow not the right type or don't I want to do MORE than the required amount of work? Just like dealing with Stan, I am never wearing enough flair or the right types of flair, despite meeting the goals that were set forth. My manager is both passive-aggressive and bordering emotional abuse in his management "style". He is not straight forward and will do things like tell me to put a ticket in for something but then ignore the ticket until it expires, rather than just telling me up front he has no intention of approving my request. He will "give direction" with non-direct subtle comments like "we should do X ", which is not the same as "we need to do X ". He will wait until several months have passed to address petty things. Even though I realized my mistakes and corrected them, he compiled a list of the mistakes I had made and sent them to me on a random Friday at 5pm, saying we need to talk next week. He has done this several times. If you're going to address things I have done wrong, at least do it at the time they occur and not a few months later, and make them things that are more important than sending an email to the wrong peer twice. It's very juvenile and incredibly petty. In a recent meeting, my manager commented that he was reviewing the work a third party contractor has done every single day in an attempt to find a mistake and get a discount on their contract. If that's what he does to a third party, I can only imagine what he does to my work!! He has bad mouthed previous employees in team meetings. While he's entitled to his opinion, again, this is very juvenile and not professional and I'm sure his acidic views are expressed in other situations (all verbally of course). I am not the first employee who has had problems like this, but they are overlooked because he gets the job done.
    Management's attitude is that they pay you to do the job, which means positive feedback is only received when you go over what you're "supposed" to do. There is little to no appreciation for actually doing your job- the attitude is "you're wearing 15 pieces of flair, that's nice, don't you want to wear MORE flair? If you wear MORE flair, then I will positively reinforce you and say you're a good worker, despite you already meeting the requirements.” My manager also does not want to relate to people or be bothered with details of their lives (unless you're HIS manager! Then he's VERY VERY interested.) Past the small talk there is no serious effort to get to know his employees. Just come in, sit down, shut up, and be productive, be productive, be productive!

    4. Performance reviews have limited character fields and managers do as they please with them. When I received my performance review, it was entirely negative. The petty things we had discussed a few months prior to the review were listed on my review (why were things that had been discussed and taken care of, not to mention incredibly petty, on my review?). When I highlighted the positive ideas and things I had done in the last 6 months I was told that the positive things were "assumed", did not need to be explicitly stated, and could not be mentioned because of the character limitations. When I discussed my concern about my review with HR, they were completely unconcerned and nothing happened. Managers above your manager will read the reviews, but don't question them and simply accept them as the complete truth about you. My manager doesn't seem like he's held accountable for anything other than quantity of work produced.

    5. There isn't any mentoring that occurs, at least not that I've seen. It's talked about a lot but no one has the time. "Special projects" routinely get postponed unless you want to put in extra hours doing them outside of the routine 9-5, or unless you are friends with the boss and are already going above and beyond your productivity level. Then you can spend days on your special project while ignoring your regular workload because you’ve “proven” that you’re “capable”. There's lots of meetings about meetings about meetings

    6. Different rules apply to management and they want you to know THEY are managers. For example, mine teleworks full-time, but I am not allowed to for more than a week because I "need to be" on campus. The bottom line is that management is special and you are expendable.

    7. The values of "honesty" and "transparency" don't apply and are kind of loosely encouraged. Recruiters will tell you whatever to get you in the door. The one I dealt with told me that, even though the company had gone through some layoffs previously, now they were stable and ok. That's obviously not the case if you check the news today. My manager is also prefers verbal communication because that way he can claim he either never said something or doesn't recall saying that. His only purpose in writing things via email or IM is to document, not communicate.

    8. Very poor communication about serious issues, such as company debt, plans forward, and layoffs, but great communication about trivial things, like the diversity "forums" (groups). Leadership decisions often seem disjointed.

    9. The big selling point of the company's health plan was that "everyone in the company has the same one". I don't care if everyone has the same one, is it any GOOD?

    10. Salaries are low compared to other companies, but they will tell you their “target” increase is 7% -- good luck getting that!!. You probably won’t get it for actually doing your job. There is no planned career path to help you progress in the company, you just get a space in your performance review to tell them what your "dream job" looks like, which they will promptly ignore.

    11. HR and management think that PIPs (Performance Improvement Plans) are excellent ways to manage employees. This tells me that management really doesn't understand how to manage its people resources. Management should be taking steps to correct "problems" before they get so bad that a PIP is needed. But they generally don't.

    Advice to ManagementAdvice

    If you guys want to have hope for the future, you need to get a grip on what's going on in your company. Stop believing the fluff and take a solid, honest look at what's there, which includes getting feedback from ALL employees and not just management.

    Doesn't Recommend
    Negative Outlook
  7. Best company ever

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Former Employee - Business Analyst in Raleigh, NC
    Former Employee - Business Analyst in Raleigh, NC

    I worked at Genworth Financial

    Pros

    The management staff is outstanding.

    Cons

    It's hard to manage a work life balance

    Recommends
    Positive Outlook
  8. Not Good

    Current Employee - Anonymous Employee
    Current Employee - Anonymous Employee

    I have been working at Genworth Financial

    Pros

    There aren't many that I can think of from working here.

    Cons

    The office culture is bad. They lay off everyone. Do not work here ever.

  9. Love it.

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Current Employee - Anonymous Employee
    Current Employee - Anonymous Employee

    I have been working at Genworth Financial

    Pros

    Great opportunities. Excellent managers. Plenty of challenges.

    Cons

    Some beauracracy when dealing with other departments.

    Advice to ManagementAdvice

    Keep doing what you are doing.

    Recommends
    Positive Outlook
    Approves of CEO
  10. Great, but you need to make yourself known.

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Former Intern - Learning & Development in Richmond, VA
    Former Intern - Learning & Development in Richmond, VA

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

    Pros

    - Independence if you push for it
    - MBA paid for
    - Looking for younger talent
    - Service minded organization
    - Fantastic management

    Cons

    - Poor culture
    - Outdated HR metrics
    - Bland work environment
    - Poor facilities
    - Strict bureaucracy

    Recommends
    Neutral Outlook
    Approves of CEO
  11. IT

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Current Employee - Anonymous Employee
    Current Employee - Anonymous Employee

    I have been working at Genworth Financial

    Pros

    Good managers, nice vacation package

    Cons

    Mostly old technology, too many budget cuts

    Advice to ManagementAdvice

    Treat people nicely, show them you care

    Doesn't Recommend
    Negative Outlook
    Approves of CEO

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