Redefining HR Through AI at Poonawalla Fincorp

Poonawalla Fincorp, a prominent Pune-based non-banking financial company (NBFC), is accelerating its digital journey with the integration of Artificial Intelligence into its human resource processes. This shift reflects a growing commitment to innovation, aimed at making HR more efficient, employee-centric, and future-ready.

AI’s Expanding Role in Modern HR

Artificial Intelligence is playing an increasingly vital role in transforming human resources across industries. From recruiting and onboarding to workforce planning and employee engagement, AI is being deployed to handle data-heavy tasks, generate insights, and improve decision-making. By automating repetitive administrative functions, organizations can focus more on strategic initiatives and personalized employee experiences.

Why AI Adoption in HR Is Timely and Necessary

The traditional HR model is being challenged by dynamic market demands, rising employee expectations, and the need for faster, smarter decisions. AI provides the tools to address these challenges by offering automation, predictive analytics, and bias-free decision-making. For companies like Poonawalla Fincorp, leveraging AI is no longer optional—it’s essential to remain competitive, resilient, and agile in today’s fast-evolving business environment.

Merging Human Expertise with Intelligent Technology

While AI significantly boosts efficiency, human insight remains critical. Poonawalla Fincorp emphasizes the importance of combining AI’s analytical power with human empathy and judgment. The integration of technology is designed to support—not replace—HR professionals. Automating routine tasks allows teams to dedicate more time to employee development, culture-building, and strategic planning.

Salil Hajarnis Leads the AI-Driven HR Shift

Salil Hajarnis, Poonawalla Fincorp's CTO, has been instrumental in driving this transformation. Under his leadership, the HR function has undergone a digital revamp to align with the company’s broader business goals. “AI empowers us to move with speed, accuracy, and fairness,” says Hajarnis. “It’s not just about streamlining tasks; it’s about creating meaningful employee experiences through intelligent systems.”

Collaboration with IIT Bombay to Advance AI Innovation

To further enhance its AI capabilities, Poonawalla Fincorp has partnered with the Indian Institute of Technology (IIT) Bombay. This collaboration focuses on the development of tailored AI solutions for financial services and HR functions. Dr. Pushpak Bhattacharyya from IIT Bombay highlighted how such partnerships bridge academic research and business needs, fostering practical innovation.

How AI Is Revolutionizing HR at Poonawalla Fincorp

The integration of AI into HR operations has delivered tangible benefits for Poonawalla Fincorp. Several key areas have seen dramatic improvements in both speed and quality:

1. Accelerated Recruitment Process
   The company has reduced the average time to roll out job offers from around ten days to less than one. AI automates candidate screening and document verification, drastically shortening hiring cycles and lowering associated costs.

2. Smarter Candidate Matching
   AI tools assess resumes and match them to job requirements with precision, helping recruiters quickly identify top candidates and enhance hiring outcomes.

3. Real-Time Evaluation and Onboarding
   AI systems now evaluate candidates in real time and offer instant recommendations based on skills and fit. This streamlines decision-making and makes the onboarding process faster and more efficient.

4. Automated Job Advertising
   Job postings are now managed by AI, which creates and distributes listings across platforms while ensuring consistent, high-quality communication.

5. AI-Powered Employee Assistance
   Poonawalla Fincorp is rolling out a WhatsApp-based AI chatbot to handle employee queries related to leave, payroll, and HR policies. This reduces the burden on HR teams and provides quick support to employees.

6. Reducing Bias in Hiring
   AI-based hiring decisions are made using objective, data-driven criteria, significantly lowering the risk of unconscious bias. This approach promotes fairness, inclusivity, and diversity in the workplace.

Conclusion: Building a Smarter, More Inclusive HR Ecosystem

Poonawalla Fincorp’s adoption of AI in HR is a forward-looking step that aligns with its broader digital transformation goals. The strategic direction led by Salil Hajarnis, combined with innovation-driven partnerships like the one with IIT Bombay, has enabled the company to modernize its HR operations while maintaining a people-first approach. As the financial services sector continues to evolve, Poonawalla Fincorp stands out as a leader in integrating technology and human insight to shape the future of work.