Studies have shown that instead of investing in the education and training (E&T) of their employees, many U.S. firms are taking advantage of the surplus of college-educated workers and are not considering the future quality or availability of work-related E&T. Research has also established that, despite the fact that increasing numbers of skilled workers need advanced work-related E&T to retain high-paying jobs in technical fields, many colleges have curricula ill suited to the needs of the nontraditional students who constitute the vast majority of individuals seeking work-related E&T. Continuation of these trends could eventually result in shortages of skilled workers that could in turn threaten the U.S. economy and U.S. firms' competitiveness/success in global markets. Higher education can play a central role in preparing a skilled work force and preventing future shortages of skilled workers by taking the following steps: (1) help firms recognize that investing in human capital will help their performance in global markets and that business must help education avoid diminished public support and government regulation and (2) preserve and improve the value of college degrees by focusing on skills standards, seeking out new markets, developing new products, and satisfying demands for technical skills and work-connected learning. (MN)