Genworth Financial

  www.genworth.com
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Genworth Financial Reviews

Updated Jul 16, 2014
Genworth Financial – Richmond – “Genworth Sign”

All Employees Current Employees Only

3.0 186 reviews

81% Approve of the CEO

Genworth Financial President & CEO Thomas J. McInerney

Thomas J. McInerney

(36 ratings)

50% of employees recommend this company to a friend

Review Highlights

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

  • Great benefits, generally good people to work with(in 12 reviews)


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

  • Upper management decisions on weathering economic downturn resulted in layoff-rehire-layoff strategy(in 7 reviews)

186 Employee Reviews
Relevance Date Rating
in
    • Culture & Values
    • Work/Life Balance
    • Senior Management
    • Comp & Benefits
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    • Approves of CEO

     

    Good Experience

    Operations Intern (Current Employee) Lynchburg, VA (US)

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

    ConsCan be mundain and boring

    Advice to Senior ManagementContinue communiction improvements with interns and training

    Yes, I would recommend this company to a friend – I'm optimistic about the outlook for this company

    • Culture & Values
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    • Senior Management
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    • No Opinion of CEO

    1 person found this helpful  

    Future remains in Doubt

    Client Service and Sales (Current Employee) Richmond, VA (US)

    ProsSome 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.

    ConsThis 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 Senior ManagementI do not think they would listen. We do regular internal surveys which produce no action.

    No, I would not recommend this company to a friend

     

    Good company

    Anonymous Employee (Current Employee)

    ProsGood work and life balance. People are diversified and generally very nice. Study support is very good too.

    ConsIt is ver political at the senior level. If you are in the wrong crowed, you could be out of the door very soon.

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    • Culture & Values
    • Work/Life Balance
    • Senior Management
    • Comp & Benefits
    • Career Opportunities
    • No Opinion of CEO

     

    Really great learning experience

    Anonymous Employee (Former Employee) Dublin, Dublin (Ireland)

    ProsLiked the team, reasonable money

    ConsProgression in Genworth was difficult - though a multinational it had a lot of politics to navigate

    No, I would not recommend this company to a friend

     

    An amazing company

    IT Intern (Current Employee)

    ProsGreat people, great pay, great location

    ConsA bit boring at times, insurance isn't always interesting

     

    Genworth has an incredible development program for internships

    Anonymous Employee (Former Employee)

    ProsGreat benefits, generally good people to work with

    ConsLots of red tape within this corporate environment

    Advice to Senior ManagementAsk for suggestions from the employees

    • Culture & Values
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    • Career Opportunities
    • Approves of CEO

     

    Decent place to work.

    IT Solutions Architect (Current Employee) Lynchburg, VA (US)

    ProsOpportunities for career growth if you are motivated and work hard. There is a renewed focus on company culture and experience.

    ConsMany changes over the past 5 or so years, including reorgs and layoffs. Heavy reliance on contractors in IT.

    Advice to Senior ManagementThe new CEO and leadership is doing the right things to steer the company forward. Keep it up!

    No, I would not recommend this company to a friend – I'm optimistic about the outlook for this company

    • Culture & Values
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    • No Opinion of CEO

     

    No concern for employees here

    Underwriter (Current Employee) Lynchburg, VA (US)

    ProsBenefits, salaries and bonuses given.

    ConsIf you have no life & desire no life & want to work 50+ hours every week & weekends as needed then this is the company for you. Micromanaged to death, a lot of inexperienced managers. Limited upward mobility. Prepare to plan your vacation a year in advance.

    Advice to Senior ManagementAddress the cons noted. Start caring about your employees.

    No, I would not recommend this company to a friend

    1 person found this helpful  

    Constant layoffs and reorgs

    Anonymous Employee (Former Employee)

    ProsDecent pay and suite of benefits, good product line of long term care insurance, nice location for home office in Virginia.

    ConsTotal favoritism toward chosen employees. Layoffs are the norm. They lay you off and make you reapply for your job. Talent and meeting goals are irrelevant at Genworth.

    Advice to Senior ManagementQuit laying off your most talented people. Reorgs are giving your company a bad reputation.

    • Culture & Values
    • Work/Life Balance
    • Senior Management
    • Comp & Benefits
    • Career Opportunities
    • No Opinion of CEO

    1 person found this helpful  

    Not sure what sales was trying to do

    Career Sales (Former Employee) Charlottesville, VA (US)

    ProsGood product, great support, can earn a lot in commissions. I really enjoyed the other salespeople and learned a lot from them.

    ConsWeird incentives. Are they trying to sell Long Term Care insurance or not? Incentives seem to favor brand new agents. Incentives decrease with seniority. When I was there the sales training was based on creating fear in the client. Manager was incorrect about factual matters about half of the time.

    Advice to Senior ManagementThere are a lot of gems in the sales force. Many of them have a lot to contribute.

    Yes, I would recommend this company to a friend – I'm optimistic about the outlook for this company

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