After bonuses were cut in 2020, the utility is considering reinstating them to attract new talent and retain workers in a tight job market.
CPS Energy President and CEO Rudy Garza, seen here outside of CPS Energy’s Braunig Power Station on Feb. 2, signed a contract last week giving him a $655,000 annual salary. Previous CEOs have had lower base salaries with additional at-risk pay for meeting performance metrics.
But bonus pay, depending on its form, can play an important role in performance and retention. CPS Energy’s past two CEOs, for example, earned relatively low base pay compared to other public power industry leaders but had the ability to earn additional “at risk” pay by meeting performance metrics set by the board.
Gonzalez told the San Antonio Report on Thursday that the board and utility staff have discussed how to possibly restructure employee compensation as a whole in the near future to better attract and retain talent. CPS Energy isWant the news delivered for free every morning?Whoops! There was an error and we couldn't process your subscription. Please reload the page and try again.
Not having any type of employee incentive program, Lewis said, can make recruiting and retaining talent even more challenging than it already is.
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