Xcel Energy Navigates Clean Energy Workforce Growth

5% Cost Savings
Achieved

13% Reduction in
Time to Fill

15% Conversion Rate of Contingent Workers to FTEs

Get to Know Xcel Energy

A leading utility holding company, Xcel Energy drives clean energy initiatives across eight states, serving 3.4 million users with electricity and 1.9 million natural gas customers. Committed to a sustainable future, they aim for complete carbon neutrality by 2050.

Business Challenges

Addressing persistent workforce challenges in a rapidly evolving energy industry.
Lacking a standardized approach to talent management across diverse project-based roles.
Experiencing shortages in critical positions like engineering, construction, project management, business analysis, and software development.
Balancing full-time employees (FTEs) with contractors for large-scale, high-investment projects.
Managing increased staffing complexities driven by a heightened commitment to clean energy initiatives.

Key Business Outcomes

Achieved 5% cost savings across all categories, enhancing financial efficiency.
Attained a 15% conversion rate, seamlessly transitioning contingent workers to FTEs.
Reduced competitive bid time to 33 days, boosting project timelines and operational efficiency.
Demonstrated commitment to diversity with a 51% diverse spend, aligning with corporate inclusion goals.
Established mature processes, supplier consolidation, and improved stakeholder visibility.

Download Case Study

"Magnit has become an indispensable partner, providing solutions that extend beyond addressing immediate challenges."

Michael Beckwith

Category Manager, Xcel Energy

Xcel Energy Navigates Clean Energy Workforce Growth

Xcel Energy Navigates Clean Energy Growth with Magnit Solutions

5% Cost Savings Achieved

13% Reduction in Time to Fill

15% Conversion Rate of Contingent Workers to FTEs

Get to Know Xcel Energy

Business Challenges

Key Business Outcomes

"Magnit has become an indispensable partner, providing solutions that extend beyond addressing immediate challenges."

Michael Beckwith

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5% Cost Savings
Achieved

13% Reduction in
Time to Fill