Employee remuneration and benefits
Genworth’s remuneration strategy
Genworth’s remuneration strategy is to attract, motivate and retain talented employees. We take a holistic approach that provides a range of cash/non-cash, fixed/variable and regular/special remuneration benefits. For more detail, please refer to our remuneration offerings below.
Base salary and super
Genworth individually benchmarks each role against appropriate market comparators to ensure we are paying competitively. Genworth provides 9.5% superannuation contributions on base salary, any bonus payments awarded and any other ordinary time earnings as applicable. Genworth’s default superannuation fund has low administration fees, many investment choices, and has the ability for spouses / partners to access these same rates.
Genworth believes that when employees perform exceptionally and the company is successful, employees who contributed to that success should share in it. Accordingly, all permanent employees participate in one of Genworth’s bonus plans. Details specific to your enquiry/role can be requested.
We care about what is important to our people and understand that the little things can make a big impact. Whether it’s spending more time with family or looking after your health and fitness, Genworth provides access to a number of benefits that help support our people both professionally and personally.
Benefits we offer include:
- Travel insurance, 20% discount on LMI premiums, novated leasing and a variety of other corporate discounts
- Free access to financial planner (superannuation and insurance expert)
- Salary Continuance Insurance (SCI) and Life Insurance (Death & TPD) (Conditions apply - be sure to request more information if you have any questions)
- Purchased leave program up to 2 weeks extra leave per annum.
Work life balance
We understand the importance of flexibility in balancing both work and personal commitments. Genworth provides access to a variety of work arrangements. Click here to read more.
Rewards and recognition
At Genworth we recognise and reward the contributions of our people in a variety of ways. These include career milestones, individual and team awards, excellence in leadership and our annual employee awards that recognise those who have gone above and beyond whilst demonstrating our company values.
Health and wellbeing
Our health and wellbeing benefits are designed to help our employees achieve their health and wellbeing goals. Genworth provides a range of options to assist with this, including an annual cash rebate for health and wellbeing programs, access to a confidential Employee Assistance Program (EAP) for employees and their immediate family members and an influenza vaccination program.