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
in
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    No concern for employees here

    Underwriter (Current Employee) Lynchburg, VA

    ProsBenefits, salaries and bonuses given.

    ConsIf 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 Senior ManagementAddress the cons noted. Start caring about your employees.

    No, I would not recommend this company to a friend

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    The ultimate shark tank

    Anonymous Employee (Former Employee) Richmond, VA

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

    ConsCompetency 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 Senior ManagementFind 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.

    No, I would not recommend this company to a friend

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    • Approves of CEO

    1 person found this helpful  

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

    IT Operations Manager (Current Employee) Richmond, VA

    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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    • Culture & Values
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    • No Opinion of CEO

     

    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

     

    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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    • Disapproves of CEO

     

    Watch your back at all times

    New Business Case Manager (Former Employee) Phoenix, AZ

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

    ConsManagement 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 Senior ManagementEliminate all of the management and hire a new set with moral fiber.

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

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

    Finance Development Program (Former Employee) Richmond, VA

    ProsNice people to work with

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

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

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    1 person found this helpful  

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

    Anonymous Employee (Current Employee) Lynchburg, VA

    ProsThe food is pretty good.

    ConsWell, 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 Senior ManagementTreat Your Employees Better

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

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    • Approves of CEO

    1 person found this helpful  

    Resume Stain

    Senior Software Engineer (Current Employee) Richmond, VA

    ProsSome 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.

    ConsUnfortunately, 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 Senior ManagementFire everyone reporting to the CEO. They all helped to ruin a good company.

    No, I would not recommend this company to a friend

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    • No Opinion of CEO

    1 person found this helpful  

    Look Elsewhere

    Anonymous Employee (Former Employee) Stamford, CT

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

    ConsPoorly 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.

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

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