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🗞️Diversity and inclusion news🗞️
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😮Biased LLMs😮
Given an estimated 99% of Fortune 500 companies now use some form of automation in their hiring process it's probably worth understanding the power that that very tech has to confirm bias😵💫
Well research by the University of Washington shows us The researchers varied names associated with white and Black men and women across over 550 real-world resumes and found the LLMs favored white-associated names 85% of the time, female-associated names only 11% of the time, and never favored Black male-associated names over white male-associated names😮
University of Washington research has found significant racial, gender and intersectional bias in how three state-of-the-art large language models with
- White-associated names 85% of the time versus Black-associated names 9% of the time;
- Male-associated names 52% of the time versus female-associated names 11% of the time.
You can read more here
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🤔A/B testing hybrid work🤔
Trip.com, one of the world’s largest online travel companies, with 40,000 employees tried it😮
One group, the control group, went into the office five days a week for six months.
The other group, the treatment group, went to the office only on Mondays, Tuesdays and Thursdays within the same timeframe
🤷🏿♂️Found the two groups showed no differences in productivity, performance review grade, or promotion.
🤔Before the experiment, managers estimated hybrid would reduce productivity by 2.6%.
📈After the six-month experiment they estimated it increased productivity by 1%.
📉Those working under the hybrid model had a higher satisfaction rate, and 35% lower attrition.
🔻Quit-rate reductions were largest for female employees. Non-managers and those with the long commutes greater than 1.5 hours also had significantly reduced quit rates under hybrid.
You can read more here
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🧠Things that make you go hmmm🧠
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💻Tech politics👮🏽
So the US election Happened. News is still coming in as to whether we'll have the first woman president however we said
In UK budget news, so we wanted to do a whole write up on the Budget but the real tea is TLDR there wasn't much in there for tech. Now take that with what you want but ultimately many in the business sector went seeing this as the big ticket for growth, Why?
We'll we've amalgamated a few perspectives form the tech and startup ecosystem
🪙Rise National Living Wage increase could support Black workers in lower-income brackets
💰Significant investment in future industries, with £1bn for aerospace, £2bn for automotive, £520m for life sciences manufacturing, and a £500m boost for digital infrastructure in under-served areas if you're in those sectors that will be welcome
🧪£20bn for Research and Development, including £6.1bn for engineering, biotech, and medical sciences, plus £300m for skills development and expanded Innovation Accelerator Programmes in Glasgow, Manchester, and the West Midlands will be welcome
💸Maintaining Business Asset Disposal Relief (previously Entrepreneurs Relief) at the lowest tax rate, albeit with increases over the next two years will be welcomed given it was rumoured it would be scrapped
📈Increasing Capital Gains Tax for chargeable assets, (including share sales) to 24% reflects a cautious approach as does increasing CGT for carried interest to 32% trying to strike the balance of making money with international competitiveness
📊National Insurance Contribution increase to 15%,
In the face of criticism that Labour would break their manifesto commitment not to raise taxes on “working people”, they announced a 1.2% increase to employer NICs (bringing the rate to 15%), and a reduction of the threshold at which the tax is paid to £5,000 adding further costs to businesses through increasing the cost of talent.
So what?
A tax raising budget
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💰Big Tech's big earnings💸
So last week was a big one for getting a sense check on the sentiment around the Big tech trillion dollar companies with the winners (in terms of the share price reaction, being those able to signal they have a way of making money from AI.
The winners📈
Alphabet: (home to Google) saw a 35% year-over-year increase in revenues on its cloud business fueled by AI with its , posting CEO Sundar Pichai saying more than a quarter of the company’s new code is now created by AI.
It wasn't a slam dunk though competition from the likes of OpenAI who have launched a new search tool and a positive quarter for, Reddit as people turn to humans for information,
Amazon: Saw its stock jump 7.6% after it beat expectations with its, AWS cloud unit showing a 19% increase in revenues following its AI adoption. Despite admitting that shoppers were buying cheaper items, given the volume is going up saw investors happy as costs didn't rocket with it for the retail unit
The Meh📊
Apple: Apple saw its performance beat revenue and profit estimates overall, but given the sat in the shadow of a YoY decline in the money it makes from china left investors underwhelmed. Supporting resilience in Iphone sales have folks checking to see if the new Apple Intelligence tech will put the winds behind the iPhone16.
Meta: Meta's quarter supaassed estimates, despiute user growth coming in in below expectations. In an attempt to excite marketings Mark Zuckerberg promised to keep spending on AI showing off his cluster of the very expensive
and sought after Nvidia H100 chips (Which power a lot of Gen AI).
The underwhelming📉
Microsoft: Microsoft also beat estimates, but saw shares drop ~ 6% (they're till up around 87% in the last two years) Why? well but concerns around the amount they're going to spend on AI and its bets on the unprofitable Open AI spooked investors. Still its CEO, Satya Nadella wont be too worried given he is on target to take home a $79,106,183 pay package in 2024 which is
up 63 per cent hike from 2023.
Nvidia's results aren't out yet so we can't comment on them, however Given they are about to swap with old rival Inte on thel Dow Jones Industrial Average, endiings Intel's quarter-century stint on the Dow. Why? well Nvidia is now worth $ 3trillion after a 176% surge in its stock in 2024 and Intel's market cap sits at ~$103bn having posted a $16.6 billion loss in Q3.
So what?
No surprises there; make money from AI and the markets will reward you
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💰The career ladder💰
A recent survey by Randstad showed that 42% of American workers aren't interested in moving up the career ladder👀
Why?
Burn Out? Gallup reported that 76% of employees feel burned out sometimes and about 28% say they are often or always burned out. Naturally as a result, if you're overwhelmed, the last thing you want is more responsibilities piled on top of that😞.
We've spoken about the benefits of post pandemic flexible work, and naturally the desire to maintain a reasonable or more flexible work life balance could come under threat as a result of getting a promotion😕
Sometimes, a promotion isn't even a promotion. Although old (We don't think there's much evidence stuff has changes) A 2018 survey showed that 39% of employers frequently offer promotions without any pay increase. For some the title change may be desirable but for others, more work for no new money may not be the move they're looking for🤔
What even is career progression? For many, doing a job you like, enjoy or offers you things like travel is more aspirational than looking for something with a nice job title or staying at a company for your entire life. Just take a look at Amazon's workers reaction to their return to the office mandate🏢
So what?
The nature of work and the workforce has changed
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📈 The tools behind the tech📉
📦Product📦
📏Design📏
👩🏿💻Code👩🏿💻
🏢The business behind the tech🏢
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🌐Partner Events & Opportunties 🌐
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💸ARM jobs💸
Senior Manager - TA Systems & Data
"The individual will be responsible for maintaining data integrity and providing informative reporting for our team and partners. You will be part of the Talent Acquisition Engagement and Experience team who act as the Centre of Excellence, uplifting capability and performance across the Talent Acquisition landscape at Arm."https://link.colorintech.org/armta0924
Director of External Workforce Solutions"This role will lead all aspects of the end-to-end recruitment process for
temporary, contract and freelance positions, ensuring Arm attracts top talent across all regions. The successful candidate will possess a deep understanding of the contingent labor market, strong leadership skills, and will drive operational excellence in a multifaceted and fast paced environment!"https://link.colorintech.org/armdirector0924
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🥗Hellofresh🥗
We're back with HelloFresh, and we're heading over to Derby!
On Nov 7th, HelloFresh is teaming up with Colorintech to host an exclusive in-person recruitment event focusing on hiring in:
Automation Engineering;
Operational Excellence;
Health and Safety;
Food Safety;
General Operations.
This is your opportunity to meet and network with the fantastic team at HelloFresh including the recruitment team who are happy to answer your questions, whilst enjoying some tasty food and drink.
Check out the key details below:
Date: Thursday 7th November
Time: 18:00 - 21:30
Where: Derby DE21
More Info: https://careers.hellofresh.com/global/en/hellofresh-uk-colorintech
As this event has limited spaces, we'll need you to register your interest to attend using our application form below:
https://kgg2ul91tn9.typeform.com/to/Ys8JP5na?typeform-source=careers.hellofresh.com
One for you folks in the midlands as We're back with HelloFresh, and we're heading over to Derby!
Check it out here
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🙌🏾The latest from the Colorintech team🙌🏾
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