Genworth Financial Reviews

Updated August 31, 2015
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284 Employee Reviews

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  1. Org Comm

    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Multimedia in Richmond, VA
    Former Employee - Multimedia in Richmond, VA
    Recommends
    Negative Outlook
    Approves of CEO

    I worked at Genworth Financial full-time (More than 8 years)

    Pros

    The people are generally nice, caring and good to work for. They have a very active community outreach that is not only effective but relevant. The companies products ar products to be proud. It actually feels like you are helping people and that you are doing good for the community when working for this insurance carrier.

    Cons

    Genworth Financial is a off shoot of General Electric - this means culture as well. The company is very vertical. I witnessed a lot of "stumbling" in order to "please " the immediate supervisor - even at the cost of the project. There is a culture of failure.

    Advice to Management

    Listen to your people - There are many brilliant people that actually work below the management level. Just because "that is the way it has always been done" does not mean you should continue to do it that way.


  2. Customer Service Team Member

    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Anonymous Employee
    Current Employee - Anonymous Employee
    Recommends
    Negative Outlook
    Disapproves of CEO

    I have been working at Genworth Financial full-time (More than 3 years)

    Pros

    Great people to work with. Lot's of highly tenured associates which speaks to the loyalty to the organization. Fair and equitable leaders that keep everyone informed of what is going on within the organization.

    Cons

    Somewhat turbulent times as the company seeks to sort out it's primary business focus. Technology is behind most corporations of equal size but the team works hard to compensate for that.

    Advice to Management

    Rethink reduction in force practices. Employees are constantly worried about job security. The recession was tough on all companies but layoff and hiring cycles need to be planned better at Genworth. If the area had more competition for talent a lot of employees wouldn't tolerate the stress this causes.


  3. Great Company

    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Anonymous Employee in Lynchburg, VA
    Current Employee - Anonymous Employee in Lynchburg, VA
    Doesn't Recommend
    Negative Outlook
    Approves of CEO

    I have been working at Genworth Financial full-time (More than 8 years)

    Pros

    Pay and benefits are great. It's really a great place to work. Highly involved in the community. Lots of customer service jobs.

    Cons

    Uncertain future of the business. The upper management attempts to be transparent but there is always an uneasy feeling in meetings.

    Advice to Management

    Please don't just talk about being transparent because it makes you seem you're hiding information. It's understandable if you can't share all information but saying you're going to be transparent so often is ineffective.


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  5. Great Place to Work

    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Anonymous Employee
    Current Employee - Anonymous Employee
    Recommends
    Neutral Outlook
    Approves of CEO

    I have been working at Genworth Financial full-time (More than 10 years)

    Pros

    Integrity – never asked to do anything unethical. When customers have a complaint or a legitimate issue the company makes the customer whole Keeps promises to customers – pays benefits as described in the products they sell Good Pay – treats employees fairly Supports the community – supports employee involvement in community activities. Gives money and time to many local non-profits, company matching on non-profit donations a nice benefit most companies do not give to their employees Good Benefits – Health care, and healthy 401K matching, more vacation time than most other companies in our area

    Cons

    Company Health Lack of Long Term Stability - need to find a product which can help us promote growth


  6. analyst

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

    Pros

    They give generous pay to attract people in Richmond area

    Cons

    Company has a long history of instability


  7. Sales Specialist

    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Sales Specialist in Richmond, VA
    Current Employee - Sales Specialist in Richmond, VA
    Recommends
    Neutral Outlook

    I have been working at Genworth Financial full-time (More than 8 years)

    Pros

    This is a great company to work for. In most cases management is thoughtful, the company is good to their employees, and the employees are some of the best. The company is also very involved with the community and so committed to allow employees the opportunity to volunteer during their work time. I consider myself fortunate to have had several great job opportunities and the support and mentorship to be successful.

    Cons

    The company is currently making changes which always creates anxiety for the workers. The length of uncertainly only lends itself to increased anxiety. Although there are less opportunities for advancement, it is still a good company.


  8. Good place to work

    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Anonymous Employee in Richmond, VA
    Former Employee - Anonymous Employee in Richmond, VA
    Recommends
    Neutral Outlook
    No opinion of CEO

    I worked at Genworth Financial full-time (More than 10 years)

    Pros

    Great people. Great place to work. I believe that leadership does a good job hiring the right employees, with the right skill set, and provides the best training to allow them to succeed. Work/life balance is a positive and the salaries are very competitive for the Richmond, VA. market. I spent a little less than a decade with Genworth and can say that even in the down times when the company was forced to layoff associates, they handled it with class.

    Cons

    The business environment since 2008 has never really allowed all units of the company to take off at once. First it was USMI, then Variable Annuities, then the Australian IPO and finally Long-Term Care. Senior leaders are constantly being forced to play reactive to the latest problem instead of discovering ways create innovative products that solve the future needs of its clients.

    Advice to Management

    Weather the storms, better days ahead.


  9. Potenial to be Fortune 300 again

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

    I have been working at Genworth Financial full-time

    Pros

    Great benefits Relaxed environment Great products (still #1 in LTC) Most people are great to work with

    Cons

    Constantly having layoffs Doesn't believe in young employees Marketing needs improvement

    Advice to Management

    Don't keep abusive employees around. Don't get rid of all of your low tenured employees.


  10. Market Intelligence Manager

    Former Employee - Anonymous Employee
    Former Employee - Anonymous Employee

    Pros

    Flexible work life policies, highly talented co-workers

    Cons

    Chaotic industry, high stress level


  11. Good company with some problems

    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Anonymous Employee in Richmond, VA
    Current Employee - Anonymous Employee in Richmond, VA
    Doesn't Recommend
    Neutral Outlook

    I have been working at Genworth Financial full-time (More than 8 years)

    Pros

    There are so many good things about working here: lots of smart, thoughtful people, very good benefits, a "get it done" mentality, good work-life balance, meaningful work and an emphasis on community service and giving back. If you have a good manager there's ample opportunity to get certifications, attend various classes, attend conferences or special training, etc. They are so-so as far as employee recognition- the more outgoing people who politic seem to have an easier time of it, but the "head down and achieve excellence" people have a better shot than at many other places. Overall (in my area anyway) the culture is very good. People are supportive of each other and have each other's backs for the most part, and are generally respectful and kind. There's been more land grabbing and work hoarding and other related behaviors lately-- I think due to all the instability. It's a good place to grow your skills- a good place to become well rounded, as they don't pigeonhole people, and let them try new things.

    Cons

    Layoffs and instability. I've been here over 8 years and it's truly exhausting. This year has been downright emotionally shredding due to all the uncertainty with the company, layoffs, rumor mill and lack of info as far as what's going on. Besides that, management is a mixed bag. Some are better than others- there's still too much micromanaging going on, and not enough role clarity. And it's much easier to come into a higher level role from the outside than be promoted from within- some people seem to have all sorts of opportunities to move up and around in the company, while others- especially those with more specialized skill sets- find advancement of any sort virtually impossible. It can get very discouraging if you are doing the same job (or more) as peers at other companies, who have the title that you do not. Also if you're in a lower "band" you have little to no authority to get things done. All frustrating.

    Advice to Management

    All in all this company is more or less fair in giving employees chances to succeed but pay attention to everyone. Managers and leadership need to clarify roles and ownership, and not allow dominant personalities to steamroll overtop process and people. Times are uncertain but let your people know where they stand whenever possible. And hang on to your talented, smart people. It feels like they are leaving in droves. Lots of us are working hard to turn things around, but if all the good and hard working folks are gone, the future looks shaky at best.



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