Genworth Financial Reviews

Updated 28 August, 2014
Updated 28 August, 2014
218 Reviews

3.2
218 Reviews
Rating Trends

Recommend to a friend
Approve of CEO
Genworth Financial President & CEO Thomas J. McInerney
Thomas J. McInerney
41 Ratings

Review Highlights

Pros
  • good work life balance, good compensation (in 13 reviews)

  • Fairly good benefits although worse in the last several years (in 13 reviews)


Cons
  • There is no work-life balance - a throwback from the GE mantra (in 10 reviews)

  • It may be difficult to move new ideas through upper management (in 7 reviews)

More Highlights

Employee Reviews

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  1.  

    Recent Genworth new-hire

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

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

    Pros

    Genworth offers an excellent on-boarding process, competitive market salary, competive benefits package, and an excellent time-off package. The recuritment process was well managed and executed. Corporate value is Integrity Fisrt at all levels, and this is seen in action... not just a slogan on a poster. Corporate culture places emphasis on inclusion, diversity, volunteerism, and opportunity for advancement.

    Cons

    Adequate parking is provided for the Lynchburg facility, although you should be willing to walk a couple blocks to work each day from the available garages.

    Advice to ManagementAdvice

    Offering Floating holidays to accommodate other non-Christian religious observances would be a nice option to support diversity. These floating holidays could be used as desired for Christmas, Easter/Good Friday, Kwanzaa, Passover, Hanukkah, etc... according to individual employee religious preferences.

    Recommends
    Positive Outlook
    Approves of CEO
  2.  

    Overall positive..cares about employees

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

    I have been working at Genworth Financial full-time for more than 10 years

    Pros

    Great flexibility, wonderful values, respect for work-life balance, great positive can do attitude is fostered.

    Cons

    Lack of skilled trained management at mid level. Personal growth is challenging unless you spend a lot of time in the home in the Raleigh office. Training Dept doesn't understand the functions well enough to offer well designed training. "Problem" employees are tolerated rather than dealt with...morale is impacted.

    Recommends
    Positive Outlook
    Approves of CEO
  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 (US)
    Current Employee - User Experience Analyst - IT in Richmond, VA (US)

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

    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 ManagementAdvice

    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.

    Recommends
    Positive Outlook
    Approves of CEO
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  5.  

    A Breath of Fresh Air

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

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

    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 ManagementAdvice

    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.

    Recommends
    Positive Outlook
    Approves of CEO
  6.  

    Good internship program

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

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

    Pros

    Good internship and training program with good leaders

    Cons

    Not always enough work for interns

    Recommends
    No opinion of CEO
  7.  

    Poor

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

    I worked at Genworth Financial full-time for more than 3 years

    Pros

    People are the greatest asset

    Cons

    Pay is poor in comparison to other companies

    Advice to ManagementAdvice

    Reduce politics

    Doesn't Recommend
    Negative Outlook
    No opinion of CEO
  8.  

    Talent Management at Genworth

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

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

    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 ManagementAdvice

    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.

    Doesn't Recommend
    No opinion of CEO
  9.  

    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 for more than 10 years

    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.

    Doesn't Recommend
    Neutral Outlook
    No opinion of CEO
  10. 1 person found this helpful  

    Genworth was a decent company to work for

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Current Employee - Senior IT Applications Specialist  in  Raleigh, NC (US)
    Current Employee - Senior IT Applications Specialist in Raleigh, NC (US)

    I have been working at Genworth Financial full-time for more than 10 years

    Pros

    Genworth takes seriously the work life balance and community involvement. Expectations are high but compensation was on par

    Cons

    There is tension and friction between the various division especially in the IT departments.

    Advice to ManagementAdvice

    More focus on the technology personnel need to stay current by providing access to industry training.

    Recommends
  11.  

    Good Experience

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

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

    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 ManagementAdvice

    Continue communiction improvements with interns and training

    Recommends
    Positive Outlook
    Approves of CEO

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