Unleashing inspired talent

“We have a unique opportunity for universities and businesses to work together to ensure we are equipping talent to find innovative solutions that will reshape our local and global economies,” said the University of Waterloo’s President, Vivek Goel, in his opening address at the Waterloo Innovation Summit on April 14.

This half-day event welcomed approximately 300 virtual and in-person guests from business, academic and government sectors to discuss how the talent evolution is transforming the workforce in Canada and around the world. From the rapid shift to remote work, to challenges recruiting top talent, to evolving workplace focus on diversity, equity and inclusion — employers and employees are rethinking the world of work. And, Goel adds, universities must rethink how we prepare the next generation of talent to navigate these transformations and inspire them to be champions of equity, sustainability and democracy.

The global talent reset

The Summit’s first keynote was delivered by Dominic Barton, Chancellor of University of Waterloo and former Ambassador of Canada to the People’s Republic of China.

Barton began by naming some of the deep forces underway that are fundamentally changing how we think about developing and attracting talent and says that the speed at which technology is changing is the biggest force shifting the nature of work. He said, “the clock speed of the world has sped up dramatically,” and businesses must be prepared to innovate and adapt much more quickly or risk becoming a “dinosaur”.

Skilled talent is imperative to keeping pace with technology. Barton said that Canadian businesses will need to think outside our borders to attract global talent to fill this demand. People used to move for work, and now work is moving to people.

Hear Barton’s perspective on the need to recruit internationally

Canada’s growth opportunity

John Stackhouse, senior vice-president in the Office of the CEO, Royal Bank of Canada, addressed the Summit audience in person. He began his remarks by acknowledging that Canada’s reopening plan post-pandemic looks a little more financially uncertain than what we envisioned one-year ago. “Canada’s medium-term growth prospects are trailing,” he said. “We need a growth agenda.”

Stackhouse said climate innovation has the potential to be Canada’s growth accelerator. We have the natural resources as well as the expertise and talent here to lead in our global goal to reach net-zero. However, Canada needs to bring together capital and talent to rise to this opportunity and he believes that it will be the younger generation that can do this well. He said the people who will drive the innovations to get us to net-zero are sitting in a classroom right now and we must learn from them. “We need to keep our doors and our minds open to them on how to tackle problems in new ways that combine human skills and technical skills.”

Hear more from Stackhouse on Canada’s growth potential

Inspiring talent with real-world experience

Norah McRae, associate provost of co-operative and experiential education at the University of Waterloo, joined a panel discussion on enabling a dynamic workforce. She said that work-integrated learning, like co-op, “helps future proof students for the future of work … and future proofs our employers.” McRae explained that while students are learning new skills, companies are learning from the students’ vast experiences and innovation mindsets.

McRae also spoke about the importance of purpose for inspiring talent. Research coming out of Waterloo’s Work Learn Institute has shown that “people are taking a deeper look at how they want to create meaning and walk in this world,” so employers need to ensure their talent feels a sense of purpose in what they contributing to.

The theme of purpose inspired the Summit’s final keynote by Fred Swaniker, founder and CEO of African Leadership Group, who joined the event virtually from Kenya. He said we need to move beyond the classroom when developing talent and inspire them with real-world applications. Swaniker noted that Waterloo is a good example of an institution doing this well through readying students with real-world experience and investing in future entrepreneurs by matching passionate talent with capital.

Swaniker stressed the importance of empowering talent through capital investment and leadership opportunities to drive purposeful change. He said that “to unleash the next wave of global growth we need to look in new places, like Africa, go beyond education and practical learning, and develop digital leaders.”

Hear Swaniker discuss harnessing untapped talent in Africa

The pandemic helped crystalize the importance of talent even greater than many organizations had realized before. The conversations at the Waterloo Innovation Summit have articulated the opportunity to take a collaborative and global approach to recruit and develop talent. Businesses, investors, policymakers and universities all play critical roles in empowering global talent to become inspired leaders ready to propel Canada’s future.

Talent done differently

A talent evolution is underway, and the effects are being felt in every sector. Waterloo’s robust talent ecosystem is equipped to respond — from world-leading co-operative education programs to research and innovations that drive real-world change. Learn how your organization can benefit.