Thought piece. Companies that need electrical and electronic engineers should sponsor promising students through college/university; in return for a contract of service of X years to discourage poaching.
Leave early; and you repay the costs.
The company I work for used to sponsor people for training in their industry with this:-
Leave within 1 year of qualification = pay 100% of the training costs
Leave after 2 years of qualification = pay 66% of the training costs
Leave after 3 years of qualification = pay 33% of the training costs
Leave after 4 years of qualification = pay 0% of the training costs
We did far more training than other companies in the area, and other companies in our region were always delighted to hire our staff and were generally quite willing to pay the training costs as a hire bonus to get people to move, which suited everybody concerned. The staff member got to move to pastures green, the poaching company got their staff member trained and mentored generally for one or two years (because why poach them in year one when you get a 33% discount if you wait?) and the company recouped a reasonably fair percentage of the costs of people leaving which could go to pay for somebody else to be trained.
Then somebody came out with some employment court ruling that this form of requirement was a form of indentured servitude and illegal. Staff were happy with the employer paying out an amount that in 2000 was enough to buy a low end house, and then qualifying and quitting shortly afterwards and getting a job elseware with the benefit of the qualification leaving the company having paid the money and not getting any benefit of the training.
Wonderful for the staff though, right? No, actually. The relatively companies doing training decided that spending the money for the training was a high risk activity under these circumstances, and stopped offering training on this basis. A few years later, nobody was doing any training for anybody other than long term staff members and people were expected to pay for their own training if they wanted to move up the career ladder. Which of course only people well off already can afford, so it completely screws people who don't have wealthy families and structurally embeds inequality.
I know people who didn't have wealthy families who our company trained who now run their own companies who must be making millions a year. There are precisely zero avenues today in our industry for somebody to do the same from the same background.
Whatever the flaws of the old system I would think that they would have been better managed through some form of watchdog with the power to eliminate the contract in case of abuse than utter abolition of the system.