Xcel Energy reviews

3.3

55% would recommend to a friend

(297 total reviews)
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Bob Frenzel

33% approve of CEO

51% positive business outlook

Reviews by job title

297 reviews

Reviews about "Compensation"

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2.0
Sep 7, 2023
Recommend
CEO approval
Business Outlook

Pros

You might get lucky with your immediate team, as I have, and love your coworkers. Jobs are stable, but as a result, slow. I have never worked anywhere where I felt I could be myself more than here, which is nice, but not everything you want from a *job*. There is a nice diversity program, although I haven't seen much of it since we temporarily went remote in 2020. Decent facilities but nothing special. Good retirement plan. Basically, work here if old & married & probably with kids.

Cons

Tone-deaf C-suite. Underpaying everyone below C-suite across the board. Posting $1 billion in profits and giving us maximum 3% raises and implementing hiring freezes is beyond ridiculous. Benefits are only worth it if you have kids and are married. Lack of training and opportunity to move within the company. Contractors are stiffed on pay and benefits, especially once things start to look tough financially -- you will get left behind (see: COVID pay cuts). The company starts to look pretty hypocritical when they preach about doing things for the good of the community and planet, and then charges you several hundred dollars a month to heat your house, for profit, using greenhouse-gas-emitting solutions. For crying out loud, have some integrity! There is a lot of turnover, since the company doesn't pay that well (they'll claim they pay well for the industry, which is hard to verify and frankly a BS excuse) and has no real incentives other than good retirement plans. Because of the high turnover due to lack of incentive, employees get stuck with an ever-growing pile of work, which leads to burnout and disillusionment. That's why I'm planning on leaving as soon as humanly possible. Return-to-work was never formally communicated until the final decision was made, which is pretty harsh considering the many lifestyle adjustments people will have to make, as we'd gotten used to fully remote, then one day a week in the office. I personally will have to figure things out with a pet sitter as my spouse's schedule changes constantly and I can't be home for my animal family anymore.

1.0
Aug 28, 2023
Recommend
CEO approval
Business Outlook

Pros

The people who work at this Company are kind and helpful.

Cons

- No bonuses for a job well done. - Yearly cost of living increases are on average 2% - All employee incentives gone or severely reduced - Hiring freeze so no opportunities for advancement. - Xcel is experiencing a large talent loss due to their regressive policies and with these positions not being filled those that remain are feeling overworked and burnt out. And managers don't have the bandwidth to provide guidance and mentor staff. - Medical, dental and vision benefits are the amongst the worst I'd ever seen. High deductible with terrible coverage until you meet 100% of the deductible. - Terrible EAP. Workers are suffering mentally from exhaustion and they have no tools available to them. When you call EAP, you are given a list of providers who are no longer accepting new patients. - Horrible HR. We have been told to prioritize our HR questions because HR is overwhelmed and cannot address all of our concerns. - Horrible IT. I feel sorry for anyone with IT issues because a ticket is opened and it is as if it goes into a black hole. None of your concerns are timely addressed. - Managed chaos. The lack of organization and communication at this Company is mind boggling. - Return to office (RTO). I saved the worst for last. We had a 20% in office expectation until July. We were told that beginning in September we had to be in the office every Tuesday, Wednesday and Thursday. The announcement by the CEO had data masked as if if came from Xcel employees when in fact it was quotes from an unnamed consulting firm. If you ask most Xcel employees the biggest benefit of working for Xcel and most will say the 20% in office expectation. Employees were worried about the cost of parking and public transportation. We were given a list of local parking lots and told we would pay full price for public transportation pre-tax. Employees were worried about security and were told to call the security hotline if they ran into an issue or ask one of the two security guards to escort you. There was no thought given to workspace. There are several people who have no place to sit when they RTO because Xcel has more employees than workspaces. And the people who do have an assigned workspace are crammed into these ridiculously small cubicles. Because of a shortage of space, you have teams divided up on multiple floors so in-person collaboration is difficult. Employees were worried about distractions because we are crammed into small spaces and the Company has a conference room shortage. We were told we should talk in a whisper tone to not disturb our co-workers on Teams calls.

4.0
Aug 14, 2023
Recommend
CEO approval
Business Outlook

Pros

Reasonable pay. Good for people with self-initiative or ambition to grow as there are lots of open positions over time. Impactful work to customers who depend on gas and electricity.

Cons

The stock price is top priority so everything else is secondary. Top-down decision-making where C-suite "knows best" and there is no accountability or discussion with employees, only to stock owners/price. It feels like we're robots to make money for the CEO. Each person is responsible for their own burnout and work loading. It all comes down to individual choice because no one else will help you with this.

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