Only machines do the talking in Federal Bank hiring

Mumbai, Nov. 20: Federal Bank is transforming its traditional HR practices by shifting almost the entire hiring process to a tool driven on artificial intelligence-arguably a first in the domestic banking space. FedRecruit, the new HR tool of the Kochi-based private sector lender, employs technology to drive the HR function to the fullest, under which the only human intervention of its multistage hiring process is the final round where top HR executives meet up with the new recruits.

Federal Bank is arguably the first in the domestic banking space to almost fully switch to technology for hiring as its large peers like HDFC Bank, which uses a lot of tech for banking, employs AI only at the primary screening level.

FedRecruit relies on a series of connected events or data points and goes beyond the conventional one-sided resume to construct a 360-degree narrative of the candidate. These data points are gathered through multiple stages—robotic interviews, psychometric and game-based assessments processes etc., Federal Bank HR chief Ajith Kumar KK told PTI.

The robotic interview process scans the candidates' personality traits, uses integrated videos for virtual face- to-face interviews and also employ live videos for real-time engagement and notification for better candidate management.

To begin with the AI-enabled chatbot screens, updates on a real-time basis and takes the applicant through a slew of steps before the final hiring. The chatbot's role ends with an SMS to the parents of the selected person.

Even the offer letter is sent out by the chatbot, Assistant VicePresident for HR Raj Gopal chips in, adding the bank has already hired 350 probationary officers from campuses since October and 350 more will be hired through December to complete the annual target of 700 for FY20. Of the 350 hired, 150 were selected in the first month itself—at the pilot stage.

Enthused by the success of its pilot experiment, Kumar says the bank will extend technology for lateral hiring as well as to take in non-core staff as well.

Globally organisations are using advanced technologies for recruitments and onboarding whereby they create seamless candidate experiences, he said.

—PTI