Genworth Reviews | Glassdoor

Genworth Reviews

Updated March 18, 2017
461 reviews

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Full-time Part-time

3.2
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Genworth Chief Executive Officer Thomas McInerney
Thomas McInerney
145 Ratings

461 Employee Reviews

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Pros
  • work life balance, competitive compensation (in 41 reviews)

  • Good benefits and working environment (in 45 reviews)

Cons
More Pros and Cons

  1. Featured Review

    "Excellent well run company"

    Star Star Star Star Star
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Vice President Sales
    Current Employee - Vice President Sales
    Recommends
    Positive Outlook

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

    Pros

    Easy to navigate, very engaging Sr Management team

    Cons

    Limited by product - not a reflection on the company


  2. "Ivory Tower with Rose Colored Mirrors"

    Star Star Star Star Star
    • Work/Life Balance
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Business Analyst in Richmond, VA
    Current Employee - Business Analyst in Richmond, VA
    Doesn't Recommend
    Disapproves of CEO

    Pros

    In this current market, they are still paying me. Genworth is one of the only employers in Richmond, VA.

    Cons

    Low pay, benefits decreasing, bad reputation, poor quality of leadership, low incentives, cost cutting, broken business model, terrible processes, low investment in IT, and drab offices.

    Advice to Management

    Wake up. The people to be held accountable for the current situation GNW is in can be found by looking in the mirror. The stock price has little to do with business economics and more to do with Wall St.'s perception of your leadership ability, your vision, and your track record over the past 5 years. After 3 years of "they just don't understand what we do", it is time to realize that maybe... after all this time and the pulling of mythical "levers"... they finally do.


  3. Helpful (1)

    "Genworth Has Bright Spots But Needs Considerable Work"

    Star Star Star Star Star
    • Work/Life Balance
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Vice President in Lynchburg, VA
    Current Employee - Vice President in Lynchburg, VA
    Doesn't Recommend
    Disapproves of CEO

    Pros

    1) Exciting, dynamic environment.
    2) "Get it done" culture.
    3) Very results oriented.

    Cons

    Exactly mirrors the positives!
    1) Stressful number of too many hours with terrible work life balance.
    2) Get it done now, even if it means setting up terrible manual processes that will be forever harder to maintain and more expensive in the future.
    3) Produce results, not quality. Don't worry if it's right. Just show that you're productive.

    Advice to Management

    There are a few gems in middle management that are being suppressed by senior management. Thin out the senior ranks considerably and promote the gems in middle management to run the company. Stop hiring external people. The only people you're getting in this environment are losers who were either out of work or incapable of being effective in their prior employer. The employees of Genworth hold the new hires in such poor regard that there is no way they can be effective. Stop thinking of yourself as the darlings of Wall Street that you used to be -- you're the ugliest girl at the dance these days so you need to take an honest assessment of yourself and build from that. The culture needs a major shift.


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  5. Helpful (1)

    "Beware of some supervisors"

    Star Star Star Star Star
    • Work/Life Balance
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Information Specialist in Richmond, VA
    Former Employee - Information Specialist in Richmond, VA
    Doesn't Recommend
    No opinion of CEO

    Pros

    it was a good place before the split from GE

    Cons

    back stabbing and ineffective supervisors and favoritism is rampant!!

    Advice to Management

    be careful who you hire in leader positions. listen to the underlings, they know what is going on and how to be effective for Genworth to do well.


  6. "Backstabbing and favortism run wild here - senior IT leaders have no ethics and no backbone to fix disfunctional teams"

    Star Star Star Star Star
    • Work/Life Balance
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - IT Program Leader in Richmond, VA
    Current Employee - IT Program Leader in Richmond, VA
    Doesn't Recommend
    Disapproves of CEO

    Pros

    Good salary and benefits
    Good location

    Cons

    - Backstabbing
    - Incapable or disfunctional leadership
    - Abusive supervisors
    - Supervisors lay off, fire, or chase-off competent middle management
    - Management has no accountability and promotes slimy staff while good people get trampled.

    Advice to Management

    How did you justify giving yourself 50,000-400,000 stock options the day the employee layoffs were finalized? I doubt your workload went up after the layoffs. I doubt you were concerned about where to get benefits for your children or income to feed your family. The answer should tell you what is wrong with you. Also, you have to bear the cross for getting the company into the situation it was in. The underlings told you early on but you fired those that spoke the truth!


  7. Helpful (1)

    "Genworth not what they portray to public"

    Star Star Star Star Star
    • Work/Life Balance
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Anonymous Employee in Richmond, VA
    Current Employee - Anonymous Employee in Richmond, VA
    Doesn't Recommend
    Disapproves of CEO

    Pros

    Pays the rent. Benefits cover medical bills incurred by overwelming stress created in the work place.

    Cons

    Genworth management cares nothing about their employees. All they care about is the bottom line. They put extreme pressure (professionally and personally) on their employees and are only show appreciation to favorites. Life/Work balance is non-existent. With all recent layoffs management feels remaining employees should be happy to have a job and put up with anything they throw at them. I would recommend Genworth as an employer of last resort.

    Advice to Management

    "Give back" should not just apply to the community. You want your employees to give back to the community to make the company look good. Why not give back to the employees who brake their back for you day in and day out. Shortly after layoff of over 400 employees in Richmond there was a headline in Richmond Times that Genworth is swimming in cash. Wonderful news to those who lost their jobs and the rest of us who didnt get an increase this year.


  8. "Favoritism is right in our faces and nothing we can do about it. This is from top management in all areas, including HR"

    Star Star Star Star Star
    • Work/Life Balance
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Anonymous Employee in Richmond, VA
    Current Employee - Anonymous Employee in Richmond, VA
    Doesn't Recommend
    Disapproves of CEO

    Pros

    In this tough economy those of us left are fortunate to have a job.

    Cons

    In reference to the "pros" above, management never misses an opportunity to remind us how lucky we are to have a job regardless of how we are treated. Managers have favorites and those favorites are allowed special privileges over the less favored. Employees not given opportunity to speak their true feelings. Even during Town Hall meetings. The questions asked during the Town Hall meetings are scripted and those who speak are chosen by management. There is no equality between departments or even within departments.

    Advice to Management

    If you have trouble sleeping at night, you may want to reconsider how you treat people. If you don't have trouble sleeping at night, then you have no feelings for others.


  9. Helpful (3)

    "The worst financial service company I have ever worked for!!!"

    Star Star Star Star Star
    • Work/Life Balance
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Operations in Phoenix, AZ
    Former Employee - Operations in Phoenix, AZ
    Doesn't Recommend
    No opinion of CEO

    Pros

    One of the best reasons for working at Genworth is the relationships you build with other co-workers. There is nothing else.

    Cons

    Interpersonal, human, or people skills determine the manager's ability to work effectively as a group or team member and to build cooperative effort within the group or team she leads, not by using threaten talk and rude remarks......Technology is behind the times compared to other financial industries.....Processing tasks are ineffective and inefficient....There is no diversity.......No balance between family & work......

    Advice to Management

    No matter how management is defined, they must apply basic skills. The basic management skills required of all managers at every level in an organization is interpersonal skills, technical skills, and conceptual skills. Senior management I believe that it would be to your advantage to have your management team go thru management 101 & diversity training. Without your employees the jobs can not be done. Treat your employees with respect for their ideas and you will get the best out of them. A organization success depends on how they treat thier employees and how they are protrayed in the public...I thought Genworth was a great company to work for...oh boy was I wrong.


  10. Helpful (1)

    "Managment disconnected from Employees"

    Star Star Star Star Star
    • Work/Life Balance
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Senior Financial Analyst in Richmond, VA
    Former Employee - Senior Financial Analyst in Richmond, VA
    Doesn't Recommend
    Disapproves of CEO

    Pros

    Genworth offers decent pay and fairly good benefits. It also has a respected name behind it and is HQed in Richmond, VA which is a fairly inexpensive and low stress environment in which to live.

    Cons

    There are major issues with upper and middle management at this company. The upper management makes many unrealistic requests and middle management very rarely has the backbone to stand up for the employees. Employees time isn't valued and working late nights and weekends is common. However, unlike a law firm or IB there are not large bonuses to follow or anything such as the route to make "partner" as this is a public corporation. I was flat out told that vacations of more than one work week were "innapropriate," so if you have family overseas be prepared not to see them.

    I was irritated by the fact that all of the work was run the engine and when I asked about how to differentiate myself, I was given a response roughly akin to "now is not the time to worry about that." The mentality was always that the sky was falling and no one in middle management would ever help to facilitate a few working days to actually improve a process or a forecasting model.

    Overall it was a very depressing place to be and while working there I felt there was no upward mobility and real ability for lateral moves to other groups where opportunities would be more fruitful.

    End of the day, a large portion of my group was laid off and of the 5 remaining, 3 left the company for greener pastures. I have no ill will towards the individuals, I just hope the company has changed and that all of that acts as a wake up call.

    Advice to Management

    Strive for innovation and process improvements. Listen to the people who actually do the work. It is very easy for a VP or Director to make a lot promises when it isn't him/her actually building the models and providing the outputs.

    Several iterations of a plan is reasonable. 25 iterations is ridiculous, especially when the processing time is several days including all work-streams.


  11. "Miserable but excellent benefits"

    Star Star Star Star Star
    • Work/Life Balance
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Case Manager in Lynchburg, VA
    Former Employee - Case Manager in Lynchburg, VA
    Doesn't Recommend
    Disapproves of CEO

    Pros

    The insurance and the benefits are incredible. If you don't ruffle any feathers or question the wrong people you can work there for decades.

    Cons

    The atmosphere is very, very political. In order to be successful you have to befriend the correct people and voice the correct opinions.

    Advice to Management

    Listen to lower people on the food chain. The report the higher-ups is giving you isn't always the truth!



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