Case Study: Xcel Energy achieves streamlined workforce management and cost savings with Magnit

Xcel Energy Navigates Clean Energy Growth with Magnit Solutions

Xcel Energy, a leading utility serving 3.4 million electricity and 1.9 million natural gas customers across eight states, faced growing talent shortages and staffing complexity as it scaled multi‑billion dollar wind and solar projects. To manage project‑based hiring across engineering, construction, project management and software roles while balancing FTEs and contractors, Xcel Energy partnered with Magnit and implemented Magnit MSP, later adding Magnit Employer of Record (EOR), Pay Intelligence and Contractor Compliance Service.

Magnit delivered a consolidated, data‑driven workforce program that improved supplier relationships, visibility and compliance while informing competitive pay decisions. The partnership produced measurable results: roughly 4–5% cost savings, a 13% reduction in time to fill with an average 33‑day fill time, a 15% conversion rate of contingent workers to FTEs, and a 51% diverse spend—demonstrating how Magnit’s solutions increased agility, reduced costs and strengthened Xcel Energy’s ability to deliver clean energy projects.

Xcel Energy

Michael Beckwith

Category Manager