Xcel Energy's Workforce Management Partnership with Magnit

This case study details the partnership between Xcel Energy and Magnit, focusing on workforce management solutions to address challenges in the energy sector. Xcel Energy, a utility holding company serving millions, has committed to achieving carbon neutrality by 2050. The collaboration with Magnit began to tackle talent management issues, particularly in project-based roles. As Xcel Energy's clean energy initiatives expanded, the need for skilled workers surged, prompting a strategic alliance with Magnit to enhance staffing processes. The implementation of Magnit’s Managed Service Provider (MSP) solution streamlined operations, while additional services like Employer of Record (EOR) and Pay Intelligence improved compliance and decision-making. Key outcomes included a 15% conversion rate of contingent workers to full-time employees and a reduction in the average time to fill positions to 33 days. The partnership has not only improved operational efficiency but also demonstrated a commitment to diversity with a 51% diverse spend, aligning with Xcel Energy's corporate inclusion goals.