Kotak Mahindra banks on Oracle to boost employee experience
Leading Indian banking and financial services group reimagines the recruitment process with Oracle Fusion Cloud Human Capital Management.
“Over the last year, when people started working from home and they were in lockdown, Oracle Workforce Health and Safety was used primarily for data collection. That was quite helpful because we didn't have to re-create the employee database.”
Kotak Mahindra Bank, headquartered in Mumbai, offers a range of financial services that cater to retail and corporate customers across urban and rural India. It has a national footprint of 1,612 branches and 2,591 ATMs.
One of the main challenges for the bank, as for the rest of the world, was adapting its business during the pandemic, when most employees were working from home. Using Oracle Fusion Cloud Human Capital Management (HCM), the bank automated its recruitment process, significantly reducing manual intervention. Oracle Workforce Health and Safety proved to be helpful in keeping branch workers all over the country safe.
Establishing paperless communications was another plus that Oracle Cloud HCM was able to bring. In a 50,000-plus employee organization, this shift made a positive impact on the environment and led to substantial savings for the bank.
Why Kotak Mahindra Bank Chose Oracle
The primary reason Kotak Mahindra selected Oracle Cloud HCM was due to its ease of use on mobile devices. This helped the organization create an internal mobile app and provide a single point of access for employees, further supporting adoption. Ease of migration from Oracle E-Business Suite and on-premises systems to Oracle Cloud HCM was another key driver. Cost, scalability, and future readiness also were factors in Kotak Mahindra’s decision to move forward with Oracle.
Before adopting Oracle Cloud HCM, the bank had multiple on-premises HR systems, leading to greater maintenance effort and fragmented employee experiences. The move to a platform that could manage a large and diverse employee database as well as different business priorities was a plus. Oracle Learning and Oracle Recruiting within Oracle Talent Management helped to automate paperless processes and also to move offline workflows online. The integration of HR processes with organizational processes was another notable result.
By enabling digital signatures, online communications, and paperless workflows, the company estimates a cost savings of about Rs 15 lakh per year by drastically cutting printing and courier costs. Due to the self-service modules, the efficency and productivity of the organization has increased while the user experience has improved.
Thanks to Oracle Recruiting, the bank anticipates it will be able to streamline its recruitment efforts as it welcomes new staff into its fold.
Kotak Mahindra Bank enjoyed a well-managed deployment with Oracle Consulting, which focused on project management and delivery.