A Game-Changer for Recruitment: AI Speeds Up Hiring Process
Poonawalla Fincorp Limited, a prominent non-banking finance company under the Cyrus Poonawalla Group, has implemented Artificial Intelligence (AI) to revolutionize its Human Resources (HR) Strategic Business Unit (SBU). This game-changing integration has led to a remarkable 90% reduction in the time required to finalize job offers, cutting the process down from 10 days to just one day. By incorporating advanced AI-driven tools, the company has streamlined key HR functions and drastically reduced time spent on manual tasks.
AI Technologies Drive Operational Efficiency and Cost Savings
The HR department's digital transformation goes beyond speeding up the recruitment process. AI tools have enabled fast candidate matching, instant document verification, and efficient candidate screening, all of which contribute to greater operational efficiency. Additionally, automated job postings and real-time candidate screening have reduced human error and improved accuracy. These innovations not only reduce recruitment costs but also allow the company to allocate resources more effectively, improving overall productivity.
Future Innovations: AI-Powered Employee Assistance System
In addition to recruitment, Poonawalla Fincorp is working on further leveraging AI for employee support. The company is developing an AI-powered WhatsApp bot that will assist employees in addressing queries related to leave, payroll, and policies. This move is aimed at enhancing employee experience by providing immediate, accurate responses to everyday HR-related questions, reducing the need for manual intervention.
"AI-enabled solutions are helping us transform our HR processes, leading to increased efficiency and reduced costs," said Arvind Kapil, CEO of Poonawalla Fincorp. This transformation underscores Poonawalla Fincorp’s commitment to harnessing the power of AI to create a more efficient and responsive HR department.
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