Are business leaders doing enough to hire and promote young talent?

Attending a recent university convocation, I was genuinely inspired by the enthusiasm and boundless potential of the next generation of graduates. Yet, it also brought a crucial question to mind: Are we, as business leaders, doing enough to cultivate the talent essential for our shared prosperity, especially as these bright young graduates face a cooling economy and fewer meaningful entry-level opportunities?

The alarming truth is that youth underemployment remains a persistent challenge across North America. Far too many of our brightest minds, fresh from years of education and brimming with ambition, struggle to find first job experiences that truly leverage their skills and ignite their careers. Youth unemployment rates, stubbornly above national averages, represent a vast, untapped reservoir of curious minds, eager to contribute. To truly strengthen our economic foundation, we must invest in new talent by creating environments where they can experiment, learn from inevitable mistakes, navigate uncertainty, and take calculated risks.

Consider the profound impact AI is having on employment opportunities. Its rapid advancement is undeniably reshaping the world of work, leading to significant conversations about automation. AI is transforming how we work; it's opening doors to unprecedented opportunities, demanding new skill sets. This shift makes adaptability, critical thinking, and the ability to partner with emerging technologies more vital than ever. Interns, with their natural aptitude for new technologies, curiosity, and hunger for learning, are perfectly positioned to thrive, and even mentor, in this evolving landscape. 

Internships are one of the few remaining springboards into the workforce, and it's important to ensure the opportunities are widely available to all students. This means paying interns for their time and effort. We are all experiencing  the impact of increased cost of living and that goes for students as well, given the rise in program fees and associated living costs. Paying interns not only demonstrates respect for the tangible value they bring to the workplace,  it also attracts a wider range of talent from a much larger pool of candidates. If we are truly building a high-performing workforce, a paycheck is part of the equation.  

For companies of all sizes and sectors, intern programs can be a vibrant pipeline for high-performing future talent while addressing the under utilization of precious intellectual capital. Beyond technical skills, internships help foster strong social connections and peer collaboration, building confidence for future opportunities, and long-term career success. At Geotab, we have seen how providing these initial, hands-on opportunities yields real, tangible outcomes. By nurturing young talent, there has been an infusion of new, often disruptive thinking into various facets of our  business, from product development and data analytics to customer support and engineering. Today, a number of our former interns are enjoying successful careers across various industries, while others remain with Geotab in leadership positions. 

Ultimately, investing in young talent is a strategic benefit for future growth. The business community can be a catalyst for vital first opportunities whether focused on skilled trades, college, or university pathways.  Let’s cultivate a national mindset that champions bold action, strengthens our economic prosperity, and ensures North America's continued global leadership. 

We simply cannot afford to let educated minds go to waste.