Manulife Reviews | Glassdoor

Manulife Reviews

Updated September 22, 2017
776 reviews

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Pros
Cons
  • Work life balance isn't the best (in 20 reviews)

  • Manual processes in silos; certain senior management members are aggressive and confrontational to lower ranking staffs (in 24 reviews)

More Pros and Cons

  1. Helpful (1)

    "Poor management"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Personal Plan Investment Consultant in Waterloo, ON (Canada)
    Former Employee - Personal Plan Investment Consultant in Waterloo, ON (Canada)
    Doesn't Recommend
    Negative Outlook
    No opinion of CEO

    Pros

    Large brand name
    Work can be fulfilling

    Cons

    Before joining Manulife I was under the impression that it was a great place to work. However Group Retirement Services located in Waterloo ON is not that.
    They mislead on their job description in regards to tasks and they mislead in regards to potential earnings capability.
    This particular department has only 4 employees yet they feel the need to hire a manager and director for a team of 4. This leads to next level micro managing.
    Management does not listen to their employees and simply laughs at their concerns.
    Management encourages shady business practices in order to meet sales targets.
    Management holds back high performing employees from career advancements in order to hit their own sales targets.
    I am one of the lucky employees to leave on their own Terms where others have not been so lucky.
    I am hoping the new Area Vice President realises a department of less than 50 does not need 10 Director and 15 managers.

    Advice to Management

    Hire more consultants and less management. Stop getting in the way of your consultants and treat them as licensed professionals.

    Manulife Response

    May 8, 2017 – Campus Talent Acquisition & Social Media Specialist

    Thank you for sharing your feedback. We are disappointed to hear about your experience and would like to understand more. If you would like to discuss further, please contact us at... More


  2. Helpful (8)

    "Poor Management - GRS Transition Solutions"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Investment Consultant in Waterloo, ON (Canada)
    Current Employee - Investment Consultant in Waterloo, ON (Canada)
    Doesn't Recommend
    Negative Outlook
    Disapproves of CEO

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

    Pros

    Bonuses - any whwre from 4-8k a quarter
    Work from Home - eventhough tech isnt the best
    Pension - rpp matching from day one
    Benefits - top tier benefits

    Cons

    Management Gossip - people know each others salaries and yearly reviews often discussed amongst management favourites. People know who is getting fired before they even get fired! Big privacy breach.
    Harassment and verbal threats due to increased competition for sales. When issues are raise to management they try to hush it up.
    Promotion of underserving people.
    Lack of growth - top sales people held back
    Lack of job security - people being let go for providing feed back. Its a one director show. Director does not know right from left. Preahes sales tactics but never been in a sales role. Hires unlicensed reps. Compliance nightmare. Fsco will have a field day with manulife transitions team at 25 water street
    More directors, managers and team leaders then actual sales reps.
    Hired people from a competitior and always asking for tricks of the old employers trade. So much for making us sign a non compete.

    Advice to Management

    Be more professional. If you are a sr manager, team leader or a direcror please act like one. Your power hunger craze and insecurities is driving away top performers. I would love for you to be on the phones and try practising what you preach.

    Manulife Response

    Jun 7, 2017 – Head of Talent Acquisition

    We are disappointed to hear about your experience and would like to understand more. Please contact us at TalentAcquisition@manulife.com so we can follow up internally with the appropriate teams.

  3. Helpful (2)

    "not a good company to work for"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Project Manager in Hong Kong (Hong Kong)
    Former Employee - Project Manager in Hong Kong (Hong Kong)
    Doesn't Recommend
    Neutral Outlook
    No opinion of CEO

    I worked at Manulife full-time (More than a year)

    Pros

    good work & life balance

    Cons

    Lots of politics
    Constant organization restructure, creating much confusion/instability within teams
    Incompetent people manager
    inconsistent assessment standards & poor assessment system
    high turnover rate

    Advice to Management

    check your facts when making your judgment.
    The current assessment system allows anyone to say anything... out of context, and not even aligned to facts. ... the managers just take whatever was said at face value and assumed that to be true and accurate. That was very lazy and irresponsible to the people being managed.

    Manulife Response

    Jun 22, 2017 – Head of Talent Acquisition

    Thanks for sharing a review. We are disappointed to hear you didn't value your experience with us as we constantly strive to improve and optimize our employee experience. We would welcome the... More


  4. Helpful (3)

    "Stay away and run for your lives"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Anonymous Employee
    Former Employee - Anonymous Employee
    Doesn't Recommend
    Neutral Outlook
    No opinion of CEO

    I worked at Manulife full-time (More than 3 years)

    Pros

    Manulife Asset Management has private markets capabilities.

    There are a few capable people amidst a sea of idiots.

    Cons

    The working culture is absolutely awful, and the caliber of people is utter rubbish. There are several highly-paid and high-ranking employees who have been either (1) weaseling along with the company for ages, or (2) pirated from other much larger firms.

    For those in group (1), a lot of them are grossly incompetent and unreliable. They do not take responsibility for their work, are clueless to even the most basic tasks, are not team players, have horrible attitudes, and are just downright incapable. This leads to work being passed on to the few who are actually capable, and the company does have some of these talents. However, the toxic environment eventually pushes them to leave the firm. Overwork seems to be the reward to these star performers.

    For those in group (2), they are excessively overpaid to the point that it's difficult to justify their presence in the company. Although they may have been capable at the larger firms they came from (which had better systems and a more organized working structure), they struggle at Manulife Asset Management as they realize that porting over their strategies wouldn't work if the corporate infrastructure and working culture to support them is horrible.

    Personnel turnover is crazy. This adds to the difficulty of work as people are constantly speaking with different people. This disrupts the flow, speed, and quality of the work one is able to deliver.

    Manulife Asset Management is not a meritocracy. Bonuses and promotions are determined by who someone is chummy with, and rewards are given as a last-ditch effort to prevent people from leaving the company. Performance is NOT a priority in rewarding employees.

    Compensation is below the market's average. The formula for computing bonuses changes yearly based on what benefits the company the most, and this upsets employees who are inadequately rewarded despite them exceeding expectations. We could only guess as to why this is so, but it’s reasonable to assume that this is due to the parent company, Manulife Financial Corporation (or “Manulife”), being a listed company, thus the pressure from shareholders to meet short-term results.

    Advice to Management

    This is my review of Manulife Asset Management. For some reason, a link to Manulife Asset Management's review on Glassdoor now leads to Manulife's review, and a standalone page for Manulife Asset Management no longer exists. Manulife/Manulife Financial Corporation, however, is the parent company and is an insurance company. The favorable reviews listed here are NOT reflective of Manulife Asset Management. The poor reviews of Manulife Asset Management were merged with the reviews of the parent company, thus diluting the scores and burying the unfavorable comments. A link to Manulife Asset Management's Glassdoor review, which was used just a few months ago, now directs readers to Manulife's review.

    Culture is determined by who you hire, who you fire, and who you promote. Strengthen the HR function and pay attention to your performers and laggards. Reward the performers and focus on what will make them be more productive. Be fully aware of your laggards are and either (1) offer them more training, or (2) manage them out of the company, especially if they've already been a drag to the company for years.

    Manulife Response

    Jul 7, 2017 – Campus and Sourcing Coordinator

    Thank you for sharing this information with us. We are disappointed to hear about your experience and would like to understand more. Please contact us at TalentAcquisition@manulife.com and we will... More


  5. Helpful (1)

    "Don't throw stones if you live in a glass house HR"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Anonymous Employee
    Former Employee - Anonymous Employee
    Doesn't Recommend
    Negative Outlook
    Approves of CEO

    I worked at Manulife full-time

    Pros

    - flexible work arrangements
    - good benefits

    Cons

    - paid significantly less than more experienced counterparts but expected to work at the same level
    - 0 work life balance if you work on a global team - expected to take calls at night regardless of personal commitments
    - small raises that don't keep pace with inflation unless you are labelled a high performer
    - no career development programs, mentorship in HR whereas other areas of the org have these programs for employees

    Advice to Management

    - Take care of your HR department if you expect them to turn around and plug the company to leaders and employees
    - pay based on performance and actually do that rather than talking about it
    - set clear expectations for staff based on their level and pay rate. Don't use young employees by paying them less and expecting to do the same level of work as more experienced counterparts and call it a development opportunity.
    - Don't let HR leaders get away with inappropriate behaviour because we don't want to investigate our own.

    Manulife Response

    Jul 26, 2017 – Head of Talent Acquisition

    Thank you for sharing your feedback. We would welcome the opportunity to learn more about your experience. If you would like to discuss further, please contact us at TalentAcquisition@manulife.com.


  6. "Bad Place"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Analyst in Kitchener, ON (Canada)
    Former Employee - Analyst in Kitchener, ON (Canada)
    Doesn't Recommend
    Neutral Outlook
    No opinion of CEO

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

    Pros

    Not many...Good benefits.....Pension.. Profit Sharing...

    Cons

    Management Bullying... no room for movement and promotion... I was put on probation for no reason.. Multiple Directors went to my manager to explain the situation that had transpired... He ignored them and put me on probation because the situation made him look bad.... He did this on the day before I was supposed to start vacation... But he told me to go have a good time.. Abusive management that are retained because of there knowledge.

    Advice to Management

    Clean house... Oh you are apparently...

    Manulife Response

    Aug 10, 2017 – Head of Talent Acquisition

    Thank you for sharing your feedback, and we're sorry to hear your negative comments. We would welcome the opportunity to learn more about your experience. If you would like to discuss further, please... More


  7. "horrible place to work"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Anonymous Employee
    Former Employee - Anonymous Employee
    Doesn't Recommend
    Disapproves of CEO

    I worked at Manulife full-time (More than 5 years)

    Pros

    none whatsoever. the people lie about putting in their hours and the managers know this., All project managers come from one religious group, and they are horrible, yelling shrews

    Cons

    incompetent, depressed people with no motivation
    all IT work done in India and it is really, really, really bad

    Advice to Management

    fire all the managers in Montreal.

    Manulife Response

    Aug 30, 2017 – Head of Talent Acquisition

    Thanks for sharing a review. We are disappointed to hear you didn't value your experience with us as we constantly strive to improve and optimize our employee experience. We would welcome the... More

  8. "Ok, but not the right culture for change"

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

    I worked at Manulife full-time (More than 3 years)

    Pros

    Experience, Top FI and Insurance companies, Global exposure, structure and leadership training,.

    Cons

    Bad culture, and out of touch with reality

    Advice to Management

    Focus on newer technology rather than old school hustling of high net worth clientele. Money spent on your "agents" who sit around doing nothing can be better spent on newer tech and social marketing. Move away from the stone age.


  9. "Review"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Anonymous Employee
    Former Employee - Anonymous Employee
    Doesn't Recommend
    Neutral Outlook
    Disapproves of CEO

    I worked at Manulife full-time (More than 3 years)

    Pros

    Ok place to start a career

    Cons

    no career trajectory or growth


  10. "Lack of direction"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Compliance in Boston, MA
    Former Employee - Compliance in Boston, MA
    Doesn't Recommend
    Positive Outlook
    Disapproves of CEO

    I worked at Manulife full-time (More than 3 years)

    Pros

    A great benefit package, there is a gym on location. They post the job range on each role and make it available to employees. Large enough that moving internally although challenging is possible.

    Cons

    Manulife seems to have lost it's way over the last couple of years. They seem to have become more concerned in buying out other companies than nurturing their current employees. Maybe this is true of most public companies, but cutting spending on resources is not always the best way to raise your stock price.

    Advice to Management

    Make roles not so manager dependent, a bad manager can lead to good employees leaving. Invest in company infrastructure, while having 30 people split two printers may be cost effective, it is inefficient. Same ideas with Workday and Service Now, try them yourself and ask is this truly working for your employees.


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