In Banking and Insurance, attrition rates are extremely high, ranging from 30-40% in banking and up to 60% in insurance. The challenge is retaining talent in a high-turnover industry. In Pharma, the struggle isn’t attrition—it’s talent shortage. The demand for specialized talent is so high that companies often search globally to fill key positions. In tech-driven Pharma roles, vacancies can stay open for 4-5 months, and the issue isn’t just in India—it’s a global problem, affecting markets like Japan and North America. The shortage is most severe in R&D, compared to production roles. 

According to Hitesh, one effective approach is enhancing workforce literacy through team-based training programs. Fresh talent recruited through campus-to-corporate models has shown promising results in bridging the skill gap. Another key focus is succession planning—not just at leadership levels, but at critical skill levels. Surprisingly, only 35-40% of companies in the industry have a structured succession planning strategy, despite being a well-established sector. 

Regardless of the industry, HR tech innovations—AI and automation—have transformed hiring. In BFSI, Applicant Tracking Systems (ATS) have been a game-changer, automating recruitment tasks like job postings, resume screening, and interview scheduling. This has freed up HR teams to focus on talent strategy rather than administrative burdens. In Pharma, AI-driven platforms help source highly specialized talent efficiently, reducing hiring time. AI adoption is clearly on the rise, enabling recruiters to find industry-niche candidates more effectively. BFSI, known for its high volume of applicants, has seen AI-powered personalization improve the hiring experience. Chatbots now engage with candidates in real time, addressing concerns and reducing anxiety, which has completely transformed how candidates perceive the recruitment process. 

In Pharma, knowledge and precision are critical. AI-driven learning platforms can simulate real-life scenarios, helping employees minimize errors and identify risks, such as potential material hazards. With AI-powered training, employees can upskill even while commuting, making learning seamless and on-the-go. When it comes to HR analytics, data plays a crucial role in measuring success. The biggest impact of AI-driven analytics is seen in reducing cost-per-hire, minimizing attrition, optimizing time-to-fill and tracking employee engagement. Predictive analytics also transforms massive data sets into meaningful insights, leading to more accurate decision-making. 

With 2025 being the year of AI Agents, automation is the new frontier. 

• In BFSI, expect AI-powered training programs tailored to individual employee needs. 

• In Pharma, AI-based learning management systems (LMS) will train employees, helping them stay better connected to their roles and organizations. 

The impact of AI Agents in both industries will be transformational.