HR Operations with Advanced AI Technology at Poonawalla Fincorp

Poonawalla Fincorp, a major non-banking finance company, is leveraging the potential of Artificial Intelligence (AI) to revolutionize its Human Resources (HR) operations. The introduction of AI into HR practices is allowing the company to significantly reduce recruitment timelines, lower operational costs, and improve the overall efficiency of HR functions. This move marks a significant milestone in the company’s digital transformation journey.

Accelerating Recruitment

One of the most time-consuming aspects of HR is recruitment. Poonawalla Fincorp has successfully reduced the time it takes to finalize job offers, shrinking the process from ten days to just one. AI tools now assist with resume matching, document verification, and candidate screening, helping HR teams quickly identify the best candidates for each role.

This automation speeds up the entire recruitment process, allowing the company to make faster decisions and reducing the time spent on manual tasks. The result is not only faster recruitment but also a more accurate and efficient process for hiring top talent.

Cost Reduction Through Automation

AI has also played a pivotal role in reducing the operational costs associated with HR. By automating routine tasks, such as posting job advertisements and verifying documents, Poonawalla Fincorp has significantly reduced the need for manual intervention. As a result, the company has been able to lower HR-related costs while still maintaining a high standard of service.

This reduction in costs allows the company to reinvest resources into areas such as employee development, training, and other initiatives that help foster growth and innovation.

Improving the Employee Journey

The integration of AI at Poonawalla Fincorp goes beyond recruitment—it is also transforming the employee experience. By implementing a WhatsApp-based AI bot, employees can now get instant responses to questions related to benefits, leave, payroll, and other HR queries. This tool reduces the need for HR staff to handle routine inquiries, allowing them to focus on higher-priority tasks.

The real-time support provided by the AI bot improves overall employee satisfaction and engagement. With this tool, employees can quickly find the answers they need without waiting for HR assistance.

Partnership with IIT Bombay to Drive AI Innovation

To continuously improve its AI-driven HR systems, Poonawalla Fincorp has partnered with IIT Bombay. This collaboration brings together the company’s goals of AI integration with the technical expertise of one of India’s top academic institutions. Together, they are developing advanced AI systems that will optimize HR operations and help the company make data-driven decisions.

This partnership ensures that Poonawalla Fincorp stays at the forefront of AI innovation, improving recruitment, employee engagement, and operational efficiency.