Decrease immigration volumes so that employers don’t bypass Canadian graduates by bringing in foreign hires. Maybe offer a tax credit for some hours a more senior employee trains a more junior employee? Employers should be able to work with what they have in a country like Canada. It is already well known that Canadian companies notoriously under-invest in employee training compared to our peers. That’s a harmful employer culture we have to change.
If you ask university faculty they will say the same thing, that their graduates are good and companies don't need to bring in foreign hires. For now let's decrease immigration levels to a quarter of the current rate, which has been much greater than the immigration rate per capita in the US for a long time now. That will without a doubt incentivize Canadian companies to take a much harder look at our STEM graduates.
Increased training offered by employers, either through tax credits or legislating business investment in training. Employers have gotten poorly accustomed to having a large volume of more than qualified people to choose from. We need to change that employer culture to something more collaborative with the community, track and publish statistics of how companies are doing in this regard.