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The U.S. giants would be incentivized to set up more branches here to capitalize on Canadian talent inside of Canada, keeping tax dollars and professionals within our ecosystem

But what if these U.S. giants faced the prospect of footing a hefty “buy-out” tab to get Canadian grads south of the border. Suddenly, the economics of raiding Canada’s universities for talent become much less attractive. In turn, more and more grads would naturally opt to live and work in Canada. Companies here would have more access to needed talent. And, those same U.S. giants would be incentivized to set up more branches here to capitalize on Canadian talent inside of Canada— keeping tax dollars and professionals within our ecosystem. On the other hand, however, this could have the effect of disincentivizing students from pursuing STEM educations, as options on graduation might be more limited. That’s a consequence worth considering.

Zooming out, it should be emphasized that the goal here isn’t to shortchange Canada’s engineers. My company wouldn’t be where it is today without their exceptional efforts. That’s why there’s another equally critical piece of this puzzle. As Canadian companies, it’s our obligation to create an environment in which the most talented people truly want to work. Compensation is part of that. We may not be able to control the exchange rate, but we can commit to rewarding our people fairly. At the same time, dedication to innovation and vision is also a major component. The smartest people want to work for the most ambitious companies — the ones looking to effect change on a global scale and have impact over the long term, not make a quick buck and cash out. It’s on us as Canadian entrepreneurs and investors to create more of the former and fewer of the latter.

To be clear, I’m floating a preliminary idea here and inviting input — not suggesting that this is the ultimate or best answer. But my hope is that this initiates a conversation on a critical topic. Considering that two out of three Canadian software grads from top schools promptly leave the country, it’s safe to say our current approach to talent retention isn’t working. It may be worth thinking outside the box.

• Ryan Holmes, CEO of HootSuite, is an angel investor and advisor, and mentors startups and entrepreneurs.

Twitter.com/invoker | linkedin.com/in/rholmes