Genworth Financial Reviews

Updated April 15, 2015
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  1. Nothing but postives

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

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

    Recommends
    Positive Outlook
    Approves of CEO
    Recommends
    Positive Outlook
    Approves of CEO

    Pros

    Great Co Workers, Great Work Environment. Ability to leave work at work and maintain a good personal life. Very good training to get you up an runing in your position, and someone is always there to answer any questions that arise. New opportunities are always arising in different departments of the company.

    Cons

    When working with a smaller group of people it is harder to get certain days off.

    Advice to Management

    Continue to run the company in the direction it has been heading as of recent.

  2. A Breath of Fresh Air

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

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

    Recommends
    Positive Outlook
    Approves of CEO
    Recommends
    Positive Outlook
    Approves of CEO

    Pros

    Genworth is dedicated to providing a diverse and inclusive workplace. At Genworth, my hard work and enthusiasm is recognized and my opportunities for growth are endless. My leaders are there to assist in navigating my career and are enthusiastic about my personal and professional growth.

    Cons

    If I could change anything about Genworth, it would be that current employees be able to compete for intern positions if they have the desire to change fields.

    Advice to Management

    My advice to management is to continue to be invested in your employees and their development. Assisting others in their growth is what will continue to make us all successful.

  3. Genworth Financial's Review

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

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

    Recommends
    Positive Outlook
    Approves of CEO
    Recommends
    Positive Outlook
    Approves of CEO

    Pros

    Genworth has great benefits, people and opportunities. Employees are given the flexibility to experiment, make mistakes and work flexible schedules that accommodate their lifestyles. Genworth does a good job of tapping into talent and maximizing the potential of their employees. There is room for growth and people are genuinely trying to do the right thing. Salaries are competitive.

    Cons

    The physical offices are not in great shape and don't foster creativity or employee retention (Richmond and Lynchburg offices). Especially compared to local competitors such as Capital One. Many folks are still stuck in the "GE" mentality and the culture is resistant to change and new ideas at times. The company is not cutting edge when it comes to technology and ways of thinking, although we have come a ways in the past few years. Getting resource and surge support is not easy and money and resourcing allocation seems random rather than strategic. Genworth is a delivery and execution focused company--they lack strategic focus and regularly work on projects without goals, metrics, audiences, etc. Genworth is not very early career friendly, but they do offer several development and internship programs to get your foot in the door. Genworth doesn't typically terminate people for poor performance (or for "going against the grain"). It can be based on tenure and likability which is not a great business model.

    Advice to Management

    Be open to change and new ways of thinking. Start with a problem and a strategy first rather than beginning with solutions. Actually get rid of people who are not aligned to objectives, processes and are on their own agendas. Don't take risks and guess what our customers want -- actually do the research and due diligence first before building a solution. Create better avenues for early career associates, especially those new to Richmond to retain them.

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  5. Good internship program

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

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

    Recommends
    No opinion of CEO
    Recommends
    No opinion of CEO

    Pros

    Good internship and training program with good leaders

    Cons

    Not always enough work for interns

  6. Talent Management at Genworth

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

    I worked at Genworth Financial full-time (more than 5 years)

    Doesn't Recommend
    No opinion of CEO
    Doesn't Recommend
    No opinion of CEO

    Pros

    Due to the prior parent company, GE, you will get to meet some interesting and smart people. Additionally, the work-life balance is pretty good with 8.30 - 6pm working hours usually.

    Cons

    Unfortunately, the company does not reward talented individuals and is primarily focused on the 'tenure' of the employee. For example, you are doing the same exact job as another individual but you only have 5 years of professional experience versus their 15, and as a result your pay rate is significantly different. Knowing that, the company makes no effort to equalize the pay through raises or bonuses.

    When I left (~2010), there were very few individuals in management that I respected because they would talk about valuing their people, and then not show it through compensation or additional benefits

    Advice to Management

    Young talent can be the life blood of an organization and be the new energy that is needed to transform and energize the company - don't value 'years worked' over 'talent'. There will be some young people who are actually better than those who have been at the company for a long time - find a way to reward them and keep them.

  7. Lots of opportunity but constantly shifting directions/priorities and focus on short term results.

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

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

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

    Pros

    Benefits are good. Lots of really smart, dedicated people to work with. Longevity and quality products in key markets. Good comp. Good brand image with consumers. Excellent training. Ability to really stretch into new roles.

    Cons

    Frequent restructuring from A to B them back to A. Heavy turnover. People with seniority and high pay often get replaced by less expensive workers despite being high performers; this impacts distribution partners as well as employee morale. Lots of politics. "Survival mode" mentality due to stock price that never recovered from IPO levels despite solid underlying value.

  8. “You'll regret taking this "opportunity"!! " At the CareScout Waltham location

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Current Employee - Operations Business Analyst in Waltham, MA
    Current Employee - Operations Business Analyst in Waltham, MA

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

    Doesn't Recommend
    Negative Outlook
    Disapproves of CEO
    Doesn't Recommend
    Negative Outlook
    Disapproves of CEO

    Pros

    Non-management employees are mostly friendly.

    Cons

    Management is extremely bias and shows obvious favoritism
    Promotions are based on favoritism and upper management is doesn't care who knows
    Talent is ignored and unappreciated
    Pay is horrible.
    College degrees are expected but pay is that of someone who dropped out of high school
    Completely unorganized and set on the "CareScout way" which are totally incorrect and not to mention illegal!
    Over worked and understaffed to say the least
    Complaining and standing up for yourself will only make things worse

    Advice to Management

    Upper management - hire middle management and employees with experience not just because they hang out with you after work-- that does not make a good management team

  9. Good Experience

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

    I have been working at Genworth Financial as an intern (less than a year)

    Recommends
    Positive Outlook
    Approves of CEO
    Recommends
    Positive Outlook
    Approves of CEO

    Pros

    The pay is good, and the people are great to work with. The experience is great for entry level or college level interests.

    Cons

    Can be mundain and boring

    Advice to Management

    Continue communiction improvements with interns and training

  10. Helpful (2)

    Great people, management is turning over - hopefully for the better.

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

    I have been working at Genworth Financial full-time (more than 5 years)

    Recommends
    Neutral Outlook
    Approves of CEO
    Recommends
    Neutral Outlook
    Approves of CEO

    Pros

    Most of the employees I work with a good, solid, smart and engaging. Benefits are good, one of the best paid employers in the Richmond area.

    Cons

    This company has been in flux since the financial crisis in 2008. Some months it feels like we are headed in the right direction, others, not so much.

    Advice to Management

    Pick a track and stick with it, this company could be one of the greats - the talent is there it just needs the right direction without all of the distractions and pet projects.

  11. Helpful (3)

    Future remains in Doubt

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Current Employee - Client Service and Sales in Richmond, VA
    Current Employee - Client Service and Sales in Richmond, VA

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

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

    Pros

    Some vestige of former prestige remains. This was a company that fought above its weight class and could be the turnaround story of the decade. Some flexibility in certain roles. Some areas and departments have managers that care deeply about their team.

    Cons

    This has been a fragmented and confused businesses since mid-2006. Once the wheels came off the bus with the recession, things got bad. While this was true across the industry it was especially bad for Genworth as the company was exposed to financial services in wealth management and insurance/risk products; as well, they had significant exposure in housing. A real double whammy.

    As the business began to recover, a senior leader was brought that inevitably has caused significant harm to part of the insurance business. Definitively, he lied to associates and national clients. He "moved on" a few months after things went very bad -- you can connect the dots. While I hope things get fixed, we currently have people running parts of the business with little to no experience - real amateurs.

    Several long term leaders that were trusted and liked were run out of the business in the last 2 years. There is no trust with much of the functional front line leadership.

    Advice to Management

    I do not think they would listen. We do regular internal surveys which produce no action.

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