Need developers, project managers or CIOs? Watch out, because the rules of tech hiring are changing


There has always been a tech skills crisis, pretty much ever since the days when computers filled entire rooms were fed instructions on punch cards.

There are plenty of reasons for this, but fundamentally we are not training enough people to fill the jobs that are out there. 

And even if we could, there’s always going to be a mismatch between the education that students absorb in college the skills they need in the world of work. Businesses rarely plan more than a few months ahead, the skills they need are constantly in flux anyway, making it hard for education to keep pace. And, of course, tech is a fast-moving industry in which skills go out of fashion quickly. As a result, many employees will require regular retraining.

The events of the last 18 months have made the skills shortage even worse. Developers, IT support staff project managers are exhausted after first helping organisations make a rapid switch to working from home, then supporting further adjustments to business models. Around 80 percent of developers report being burned out, with around half blaming their workloads.

On top of that, many organisations are now kicking off huge digital transformation projects to build on the changes they were forced to make during the pandemic. Inevitably, the pressure on IT staff will start building again, because you simply can’t run these projects without developers or project managers or CIOs.

On top of that, employers are unveiling their plans for a return to the office, even though significant numbers of staff remain reluctant to resume their commutes. Exhausted developers, thoughtless employers a major tech skills shortage? No wonder many are talking about the ‘great resignation’, as workers gear up to quit: half of tech staff are considering leaving their jobs.

Many employers are very bad at hiring retaining the right people offering the training development opportunities that developers want. And when employers fail to provide that structure, you can hardly blame tech staff for moving on rapidly to new jobs (three-quarters of tech security professionals say they are approached by recruiters every month).

The end result is a significant realignment going on in the tech skills market. For far too long employers have failed to create the right conditions for success. Employers haven’t fully understood they skills they require, have had unrealistic expectations about employees’ levels of experience, or have not paid enough. They have also paid insufficient attention to career development training.

Right now, tech workers are in high demhave a strong negotiating position. Not just in terms of salary, but also in terms of flexible remote working requirements. Listening to what developers other tech workers want might be a big step towards solving the skills crisis, by creating a better working environment more attractive career path. The rules of tech recruiting are changing, employers who are also willing to change will reap the benefits.

ZDNET’S MONDAY MORNING OPENER 

The Monday Morning Opener is our opening salvo for the week in tech. Since we run a global site, this editorial publishes on Monday at 8:00am AEST in Sydney, Australia, which is 6:00pm Eastern Time on Sunday in the US. It is written by a member of ZDNet’s global editorial board, which is comprised of our lead editors across Asia, Australia, Europe, North America. 

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YouTube suspends Sky News Australia uploads over COVID-19 misinformation


YouTube is no stranger to temporarily banning media outlets for spreading COVID-19 misinformation, but its latest crackdown might be its largest yet. The Guardian BBC News say the video service has banned Sky News Australia from uploading new videos for a week over accusations it spread COVID-19 misinformation. Multiple Sky videos reportedly violated rules denying the existence of the new coronavirus or claiming that hydroxychloroquine ivermectin were effective treatments.

The clips didn’t provide “sufficient countervailing context” to indicate the claims were false, YouTube told The Guardian. YouTube warned there was the potential for “real-world harm” from these videos. This just one “strike” against Sky — two more would lead to a permanent channel ban.

Sky said it found older videos that broke YouTube’s rules, but rejected claims that any of its hosts denied COVID-19’s existence. The broadcaster’s digital editor alleged that YouTube was threatening free thought, although YouTube is notably focusing on demonstrable facts, not opinions.

The TV network has come under fire for its stance on COVID-19, particularly from host Alan Jones. He falsely claimed the SARS-CoV-2 virus was “not a pandemic” in 2020, in July incorrectly maintained that the virus’ Delta variant was neither dangerous nor affected by vaccines. An uproar over those last statements prompted Sky to make a formal apology on July 19th, removing the relevant video at the same time.

The suspension won’t dramatically damage Sky’s Australian revenue. It’s still rare for YouTube to take that kind of action against a major media network, though. The move also sends a signal — large outlets can’t count on their size to shield them against YouTube crackdowns.

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Zoom will pay $85 million to settle lawsuit over privacy ‘zoombombing’


Zoom is facing more consequences for its earlier privacy security lapses. Reuters reports that Zoom has agreed to pay $85 million to settle a lawsuit accusing the video chat giant of violating privacy enabling “zoombombing” (that is, trolls dropping into others’ chats). The preliminary settlement also requires tougher security measures, such as warning about participants with third-party apps offering special privacy-oriented training to Zoom staff.

Judge Lucy Koh said the company was largely protected against zoombombing claims thanks to the Communications Decency Act’s Section 230 safeguards against liability for users’ actions.

The settlement could also lead to payouts if the lawsuit achieves a proposed class action status, but don’t expect a windfall. Subscribers would receive a refund of either 15 percent or $25, whichever was larger, while everyone else would receive as much as $15. Lawyers intended to collect up to $21.25 million in legal costs.

In a statement, Zoom denied doing anything wrong said that privacy security were “top priorities.” The company previously agreed to settle a Federal Trade Commission complaint over similar privacy issues, including the permanent web server it installed on Macs.

Zoom scrambled to bolster security for its video chats after a surge in pandemic-related use drew attention to vulnerabilities in its software services. It started rolling out end-to-end encryption in October 2020, conducted reviews made zoombombing more difficult. The improvements were too late for some users, though, it’s safe to say the settlement is a warning to companies that only belatedly tighten security for their apps.

All products recommended by Engadget are selected by our editorial team, independent of our parent company. Some of our stories include affiliate links. If you buy something through one of these links, we may earn an affiliate commission.



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Hindalco Industries plans to invest Rs 8,000-10,000 crore in three plants




Aditya Birla group firm Hindalco Industries is planning to invest around Rs 8,000-10,000 crore in Hirakud, Silvassa Mundra plants.


The investment will be for expanding flat rolling capacity at Hirakud, Odisha, new extrusion plant at Silvassa in Dadra Nagar Haveli, in a greenfield site at Mundra in Gujarat with a recycling facility, Hindalco said in its Annual Report 2020-21.





Stating that the company is planning to expits aluminium downstream business with a focus on value-added products (VAP) over the next three-seven years, Hindalco said its products would cater to customised requirement for varied complex applications of aluminium.


The Hirakud plant capacity for flat rolled products is estimated to be 3,40,000 tonne per annum. The planned capacity of the extrusion plant at Silvassa is 34,000 tonne per annum, which would have three extrusion presses to service premium customers in building construction, automobile transport, electrical, consumer industrial good sectors.


In addition, the new extrusion recycling unit at Mundra is awaiting lacquisition process would have a capacity of 93,000 tonne per annum.


In India, the focus continues to be on downstream that constitutes value-added offerings, primarily in the Flat Rolled Products (FRP) extrusions segments.



“With the market segment presenting sizeable untapped opportunities, we are committed to deploying resources to transform this vertical into a future EBITDA growth driver,” the company said.


The Indian demfor aluminium lags behind global demby a significant margin. This, along with the lower per capita consumption of aluminium, bodes well for robust demgrowth in the medium to long term, it added.


The packaging, construction transportation sectors also remain underpenetrated in India compared to global standards, thereby presenting substantial growth avenues that “we are well-placed to explore capitalise on.”

“In terms of our Indian operations, expansion of the Utkal Alumina refinery will increase operational efficiencies even as we continue our investments to modernise the existing alumina capacities, leading to improvement in the quality of output on-site cost efficiencies,” it said.


Investments in revamping older alumina refineries, such as the Renukoot refinery, are expected to reduce operating costs of these refineries in the future.

(Only the headline picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)

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Business Standard has always strived hard to provide up-to-date information commentary on developments that are of interest to you have wider political economic implications for the country the world. Your encouragement constant feedback on how to improve our offering have only made our resolve commitment to these ideals stronger. Even during these difficult times arising out of Covid-19, we continue to remain committed to keeping you informed updated with credible news, authoritative views incisive commentary on topical issues of relevance.

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Macrotech Developers to meet Rs 9,000-cr property sales target in FY22




Realty firm Macrotech Developers expects to achieve its target of 50 per cent growth in sales bookings this fiscal to Rs 9,000 crore despite sluggish housing demin April-May in view of second wave of the Covid-19 pandemic, a top company official said.


Mumbai-based Macrotech Developers, which markets its properties under ‘Lodha’ brand, got listed on the stock exchanges in April this year after raising Rs 2500 crore through its initial public offering (IPO). It is one of the leading real estate firm in the country.


In an interview with PTI, Macrotech Developers MD CEO Abhishek Lodha sounded confident of meeting the sales bookings guidance of Rs 9,000 crore for the current 2021-22 financial year as housing demrecovered strongly after almost a washout in April-May.


The company’s sales bookings stood at Rs 5,970 crore last fiscal year.


“Our housing sales were badly impacted during April-May because of the second wave. But, in June, we achieved sales bookings of around Rs 650 crore demin July is also good,” he told PTI.


Asked whether the company would revise downward its sales bookings guidance, Lodha replied in negative.


ALSO READ: Lodha sells 22-acre lparcel in Palava industrial park to Japanese firm



“Sales bookings in April-May were very low but we have already factored that in our sales guidance. We are on track to achieve Rs 9,000 crore figure, provided there is no further disruption,” he said.


In the April-June quarter, Macrotech Developers clocked a total sales booking of Rs 957 crore, of which Rs 654 crore came in June.


Bullish on the outlook for housing demand, Lodha said: “Importance of owning a house has increased significantly since the outbreak of Covid-19 pandemic. People are using their savings to buy homes. Interest rates on home loans are at historical low.”


To encash pent up as well as fresh demand, he said the company would launch 5 million square feet of projects in this fiscal, of which 0.9 million sq ft were already launched in the first quarter. The company has inventories in the ongoing housing projects as well.


“Housing demis gradually consolidating towards trusted developers. New supply is more disciplined,” he observed.








ALSO READ: Lodha Developers makes weak stock market debut as shares fall 5.8%



Lodha said the company would continue to focus on the Mumbai Metropolitan Region (MMR) Pune markets for development of housing as well as industrial logistics parks. The company does not have any plan to enter new geographies but will expaggressively in various micro-markets of the MMR Pune, where it has no or limited presence, through partnerships with landowners.


In the warehousing development business, Macrotech recently sold 22.3 acres lparcel in its Pallava Industrial Logistics Park to a Japanese firm for an estimated deal value of around Rs 80 crore. On debt, Lodha said the company’s net debt has reduced by 23 per cent during the first quarter of this fiscal year to Rs 12,435 crore.


“We will reduce our debt further in the coming quarters. We are on track to meet the guidance of bringing net debt below Rs 10,000 crore level at the end of this fiscal year,” he added.


The company’s average cost of debt came down by 70 bps (basis points) from 12.3 per cent in March’ 21) to 11.6 per cent in June’21).


On Friday, Macrotech Developers reported a consolidated net profit of Rs 160.91 crore for the quarter ended June. It had posted a net loss of Rs 134.44 crore in the year-ago period. Total income grew to Rs 1,712.36 crore in the first quarter of this fiscal year from Rs 572.53 crore in the corresponding period of the previous year.

(This story has not been edited by Business Standard staff is auto-generated from a syndicated feed.)

Dear Reader,

Business Standard has always strived hard to provide up-to-date information commentary on developments that are of interest to you have wider political economic implications for the country the world. Your encouragement constant feedback on how to improve our offering have only made our resolve commitment to these ideals stronger. Even during these difficult times arising out of Covid-19, we continue to remain committed to keeping you informed updated with credible news, authoritative views incisive commentary on topical issues of relevance.

We, however, have a request.

As we battle the economic impact of the pandemic, we need your support even more, so that we can continue to offer you more quality content. Our subscription model has seen an encouraging response from many of you, who have subscribed to our online content. More subscription to our online content can only help us achieve the goals of offering you even better more relevant content. We believe in free, fair credible journalism. Your support through more subscriptions can help us practise the journalism to which we are committed.

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