Director, Compensation

Xcel Energy Services Inc; Minneapolis (MN); Hybrid; USD 148,000 - 211,000; Full time

Benefits offered by this job

Annual incentive

Long-term incentive

Medical/Pharmacy plan

Dental

Vision

Life Insurance

Pension

401(k) plan

PTO

Holidays

Tuition reimbursement

Employee Assistance Program

Job summary

Xcel Energy seeks a Director of Compensation to lead the design, development, and implementation of broad-based employee compensation and recognition programs. You will align plans with Total Rewards strategy, partner with HR, Finance, and Legal, and oversee executive compensation and LTI programs.

The role requires 10+ years in compensation with leadership experience, strong regulatory knowledge, and excellence in analytics, communication, and collaboration.

Qualifications

• Bachelor's degree in HR, business, or related field or equivalent experience.
• Advanced degree preferred.
• 10+ years in compensation with leadership/strategy experience.
• Exposure to executive compensation and LTI programs.

Responsibilities

• Direct the design, development and implementation of broad-based employee compensation programs.
• Lead compliance with federal/state regulations affecting compensation (FLSA, 409A, pay equity).
• Oversee executive compensation and Long-Term Incentive programs; proxy materials.
• Build and mentor a high-performing compensation team and collaborate with HR, Finance and Legal.

Education

Bachelor's degree in HR, business, or related field

Advanced degree

Tools

HRIS platforms

Job description

Xcel Energy (NASDAQ: XEL) is a leading energy provider and Fortune 500 company, dedicated to serving millions of electricity and natural gas customers across eight states: Minnesota, Colorado, Wisconsin, Michigan, North Dakota, South Dakota, New Mexico and Texas. We make energy work better for our customers, helping them thrive every day. That means always raising the bar - delivering better service and providing more reliable, resilient, and sustainable energy. Xcel Energy is a place where you’ll have opportunities to grow, expand your skills, and help lead the clean energy transition. We offer meaningful rewards, recognition, and support to help you build your career and make an impact - both on the job and beyond. Most importantly, it means you’ll be joining a company that knows employees are the driving force behind its success and is committed to helping you be your best. Xcel Energy supports a hybrid work model to enable collaboration and flexibility. Many roles are expected to work onsite three days per week (Tuesday-Thursday); however, work location expectations vary based on role, team, and business needs.

Director, Compensation Position Summary

A visionary leader responsible for the design, development and implementation of the Company’s broad-based employee compensation and recognition programs. This role requires a deep understanding of base pay, incentive plans, recognition and executive compensation. Serves as the leader that position compensation programs to align with business needs the Total Rewards strategy to support the attraction and retention of desired talent. The Compensation Director is a crucial role on the Total Rewards leadership team to foster partnerships across HR and collaborate with Finance, Legal, Regulatory to align plan design and enhance the employee experience and organizational performance.

Essential Responsibilities

Program Design & Administration

Direct the assessment and development of broad-based employee compensation strategy, roadmap and programs to ensure alignment with business needs. Champion innovative program offers in response to business growth needs and supporting employee engagement. Assess market trends and formulate recommendations to maintain the right level of competitive market positioning within the larger total rewards framework. Make evidence-based decisions for continuous improvement by analyzing program costs, utilization, and claims data to optimize plan design and expenses while maintaining or enhancing value for employees. Provide leadership on program and policy implementation, administration, communication and change management for base pay and variable pay. Ensure business continuity through the ongoing development and maintenance of standard operational procedures and process documentation.

Compliance Management & Regulatory Support

Ensure team stays abreast of regulatory changes and that business processes remain compliant with applicable federal, state and local requirements (e.g., FLSA, 409A, pay equity, wage notices). Ensure strong partnership with other cross-functional partners and alignment on ownership. Collaborate with internal partners to develop and implement strategy to obtain regulatory recovery on employee labor costs. Oversee the coordination and preparation of testimony, respond to regulator requests, and act as HR's witness for regulatory proceedings.

Executive Compensation

Serves as a rate case witness and attends hearing when applicable. Acts as a backup to the Executive Compensation & LTI Senior Manager. Support the preparation of proxy filings. Serves as an understudy on preparation of materials for the Governance, Compensation and Nominating Committee (GCN) meetings.

Team Development & Leadership

Build, mentor, and lead team of compensation consultants to foster a high performing culture focusing on value creation, operational excellence, collaboration and continuous learning. Set clear objectives, provide regular feedback, and guide professional development to strengthen the team’s capabilities. Promote cross-functional partnerships with HR, Finance, Legal and Regulatory to drive integrated solutions and strategic alignment.

Minimum Requirements

• Bachelor's degree in a HR, business, or related field or an equivalent combination of education and relevant experience.
• Advanced degree preferred.
• 10+ years of progressive experience in compensation, with at least 5 years in a leadership or strategic role.
• Some exposure and working knowledge of executive compensation and LTI program administration.
• Strong understanding of relevant laws and regulations governing compensation programs at the federal and state levels.
• Advanced analytical, consulting and influencing skills, with a track record of identifying issues and formulating solutions.
• Demonstrated experience with various HRIS and compensation systems.
• Profession certifications such as CCP, GCP or similar credentials are highly valued.

Key Competencies/Skills

• Thought Leadership: Ability to develop and articulate a forward-thinking compensation strategy that aligns with organizational goals, challenge status quo and introduce creative solutions.
• Analytical & Financial Acumen: Strong analytical mindset and skilled in interpreting complex data to inform decision-making and demonstrate program impact and knowledgeable in budgeting, financial planning, and financial impact of compensation programs.
• Effective Communicator: Proven interpersonal and communication skills to effectively interface with individuals and groups at all levels of the organization by translating complex concepts in a way that can be easily understood by others.
• Project Management: Consistent in managing initiatives through exercising the discipline of core project management practices of timelines, milestones, progress tracking, and budget management.
• Organizational Planning: Effectively structure, prioritize and manage tasks, resources and time to consistently achieve deliverables per established deadlines.
• Influence & Collaboration: Strong stakeholder management skills and the ability to communicate complex concepts clearly and persuascively.
• Detail Oriented: Keen attention to details and operate at a high level of accuracy.
• Tech-Savvy: Strong aptitude for comprehending, utilizing, and adapting to new technologieswith high-level efficiency and effectiveness.
• Vendor Management: Ability to develop productive relationships with external service providers to achieve organizational objectives.
• Team Leadership: Skilled in coaching, skill development and performance alignment that empowers ownership and decision making across the team.

Success Measures

• Compensation programs are competitively positioned and aligned with business needs.
• Program effectiveness is demonstrated…
• Departmental budgets and expenses are managed within corporate guidelines.
• Business continuity is sustained through process documentation, cross training and a defined operational support structure.
• Establish a high performing team with an influential, consultative approach and a good bench strength for succession planning.

Our culture is grounded in shared values and employee commitments that guide how we work, support one another, and grow together. Our Values Connected, Committed, Trustworthy, Safe Our Employee Commitments Work that makes a difference A team you can count of Opportunities to grow Rewards that help you thrive Xcel Energy provides job applicants reasonable accommodations for disabilities throughout the application process. If you are in need of an accommodation to complete the application process, now or at any time in the future, please complete the Applicant Accommodation Request Form.

Non-Bargaining

The anticipated starting base pay for this position is: $148,400.00 to $210,733.00 per year

• Annual Incentive Program
• Long Term Incentive
• Medical/Pharmacy Plan
• Dental
• Vision
• Life Insurance
• Dependent Care Reimbursement Account
• Health Care Reimbursement Account
• Health Savings Account (HSA) (if enrolled in eligible health plan)
• Limited-Purpose FSA (if enrolled in eligible health plan and HSA)
• Transportation Reimbursement Account
• Short-term disability (STD)
• Long-term disability (LTD)
• Employee Assistance Program (EAP)
• Fitness Center Reimbursement (if enrolled in eligible health plan)
• Tuition reimbursement
• Transit programs
• Employee recognition program
• Pension
• 401(k) plan
• Paid time off (PTO)
• Holidays
• Volunteer Paid Time Off (VPTO)
• Parental Leave

Benefit plans are subject to change and Xcel Energy has the right to end, suspend, or amend any of its plans, at any time, in whole or in part.

In any materials you submit, you may redact or remove age-identifying information including but not limited to dates of school attendance and graduation. You will not be penalized for redacting or removing this information.

Accessibility Statement Xcel Energy endeavors to make https://www.xcelenergy.com and https://jobs.xcelenergy.com accessible to any and all users.

You. Us. Together.

At Xcel Energy, we’re more than an energy company. We’re reinventing how we power communities.

Redefining how we care for customers. Reaffirming our commitment to the planet. We’re committed to leading with equity and inclusion.

You’re not waiting for change – you’re creating it. You’re driven to protect the environment, support your community, and seek innovation.

You want a career that grows with you and an employer who values you. You are reliable, trustworthy and bring integrity to everything you do. We are leading the way in clean energy. We’re using technology and innovation in every facet of our company.

We’re providing safe, stable jobs with robust benefits. We keep our customers at the center of all we do. We’re committed to hiring a workforce that reflects the communities we serve.

Together, we can provide carbon‑free electricity by 2050. Together, we can take care of the environment and our communities. Together, we can create a place where everyone belongs. Together we’re building a better tomorrow.