Genworth Financial

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Genworth Financial Reviews

Updated August 20, 2014
Updated August 20, 2014
195 Reviews

3.1
195 Reviews
Rating Trends

Recommend to a friend
Approve of CEO
Genworth Financial President & CEO Thomas J. McInerney
Thomas J. McInerney
37 Ratings

Review Highlights

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

  • Fairly good benefits although worse in the last several years (in 13 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 7 reviews)

More Highlights

Employee Reviews

Sort: Popular Rating Date
  1.  

    No concern for employees here

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

    Pros

    Benefits, salaries and bonuses given.

    Cons

    If you have no life & desire no life & want to work 50+ hours every week & weekends as needed then this is the company for you. Micromanaged to death, a lot of inexperienced managers. Limited upward mobility. Prepare to plan your vacation a year in advance.

    Advice to ManagementAdvice

    Address the cons noted. Start caring about your employees.

    Doesn't Recommend
    Neutral Outlook
    No opinion of CEO
  2. 1 person found this helpful  

    The ultimate shark tank

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

    Pros

    Competitive pay and personal time allowed (at least on paper but don't expect to actually get the time).

    Cons

    Competency is not rewarded. Don't expect to advance based on performance. You need to get in with the right people. Also you need to "drink the cool aid" and never express opinions that contradict those of the senior staff. In other words, you need to be a "yes man" to have any chance of advancing in this environment.

    Advice to ManagementAdvice

    Find a better way of recognizing talent and developing approaches to retain and advance them. Also realize that good ideas can come from many sources, not just from senior staff.

    Doesn't Recommend
    Neutral Outlook
    No opinion of CEO
  3. 1 person found this helpful  

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

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

    Pros

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

    Cons

    You get promoted by "who knows who " in IT

    Advice to ManagementAdvice

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

    Doesn't Recommend
    Neutral Outlook
    Approves of CEO
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  5.  

    Manager

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

    Pros

    Nice campus with an on-site cafeteria.

    Cons

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

    Advice to ManagementAdvice

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

    Doesn't Recommend
    Neutral Outlook
    No opinion of CEO
  6.  

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

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Former Employee - Long Term Care Insurance Specialist
    Former Employee - Long Term Care Insurance Specialist

    Pros

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

    Cons

    Bait 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 ManagementAdvice

    Have 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.

    Doesn't Recommend
    Negative Outlook
    Disapproves of CEO
  7.  

    Watch your back at all times

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Former Employee - New Business Case Manager  in  Phoenix, AZ
    Former Employee - New Business Case Manager in Phoenix, AZ

    Pros

    The annual salary is pretty good, year end raises and bonuses are insulting

    Cons

    Management is petty and incompetent. All criticism is met with swift retribution. The systems are beyond obsolete. Coworkers are all too happy to stab you in the back at the first opportunity. Many people go on leave to handle the stress. Immoral business practices that are used to create a competitive advantage in the market place. Be ready to work insane amounts of overtime to compensate for the many shortcomings in staffing and system failures.

    Advice to ManagementAdvice

    Eliminate all of the management and hire a new set with moral fiber.

    Doesn't Recommend
    Negative Outlook
    Disapproves of CEO
  8.  

    Interned here for the summer after turning down other offers...worst decision ever

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

    Pros

    Nice people to work with

    Cons

    Work was so pointless and easy. Management was not helpful when asking for more work and i felt like i was smarter than most of my co-workers. Co-workers always complained about doing work and sat and did nothing most of day. Terrible pay as well for FDP Program

    Advice to ManagementAdvice

    Look to develop more talent instead of hiring random employees to do a job that they are not qualified to do.

    Doesn't Recommend
    Negative Outlook
    Approves of CEO
  9. 1 person found this helpful  

    If you are looking for advancement in your career don't come here

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

    Pros

    The food is pretty good.

    Cons

    Well, where do I start. If you are looking to move up the ladder you better either be related to someone within the company, be friends with someone with in the company or your not getting anywhere. I have seen too many times NEW HIRES they only have a few months worth of actual "GENWORTH EXPERIENCE" and get promoted over other longer term employees. It was my impression that the Genworth manual states you must be in a position at least 18 months before you can be promoted. However recent and past events have proven that Genworth's Integrity creed turned out to be a bunch of crap!

    This is not in any one unit it's across the board from numerous different employee's I have spoken with. They are tired of being overlooked for promotions and raises.

    Another thing is they have WAY too many meaningless meetings that provide NO insight and are mostly a waste of time.

    The Management expects work to be completed, however when raise time comes along this company generally gives the LOWEST possible raise.

    Advice to ManagementAdvice

    Treat Your Employees Better

    Doesn't Recommend
    Negative Outlook
    No opinion of CEO
  10. 1 person found this helpful  

    Resume Stain

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

    Pros

    Some really great people to work with as long as you don't go too far up the totem pole. Former CEO MDF is now history which was one of the main liabilities of the company. I hear the new CEO is pretty good but he'll need to replace most of the people that are reporting to him.

    Cons

    Unfortunately, for some bizarre reason most of the former CEOs direct reports are still employed. However, I'm hearing that their days are numbered. If you're an IT professional avoid this place like the plague. IT is way under funded and the demands on the individual are unrealistic. If you're a low level pion, expect opportunity for advancement to come in the form of a title with no salary increase or budget to do your job. If you're mid-management expect to be reorganized every six months sprinkled with layoffs in between. Unfortunately, HR ran the last layoff without the input of the managers and the company shed a lot of great people and kept a bunch of deadbeats so HR could meet their quotas and "appear" fair.

    If you're desperate enough to work there ask for extra vacation time and a signing bonus. They do this all the time but you have to ask. If you have a high demand skill like an underwriter or an IT professional ask for a one or two year contract. That way, when you get laid off, you'll have something to fall back on. They do this all the time but won't admit to it.

    Advice to ManagementAdvice

    Fire everyone reporting to the CEO. They all helped to ruin a good company.

    Doesn't Recommend
    Neutral Outlook
    Approves of CEO
  11. 1 person found this helpful  

    Look Elsewhere

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Former Employee - Anonymous Employee  in  Stamford, CT
    Former Employee - Anonymous Employee in Stamford, CT

    Pros

    Mostly nice co-workers. Easy commute. Easy work if you do not want to think.

    Cons

    Poorly run company with outdated and irrelevant process. Mid-level managers are not subject matter experts with poor training in managing people and projects. Very narrow minded organization who fears new ideas and improvements and who is intimidated by smart people who look to bring in ideas normal to best practices in other successful companies. Management seems to enjoy chaos, office politics and back stabbing. Definitely not a fit for those who want to work for a cutting edge company. Bureaucratic multi-layered approval process for making simple decisions. Company and mid-level managers to not empower employees to make decisions. Heavy emphasis on reporting and more reporting, meetings to have meetings etc. Results of above are poor earnings, company in decline and high turnover. Either join the group think or you will be odd man out.

    Doesn't Recommend
    Negative Outlook
    No opinion of CEO

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