Criticism of education has brought with it a reduction in the status of the teaching profession. The effects of this on faculty have been worsened by changes in career rewards and responsibilities brought about by the economic problems of higher education institutions. Colleges can no longer overlook the needs of faculty. Both life cycles and careers move through a series of identifiable stages. Among careers, the academic profession is unique. It is a solitary, unchanging activity with a reward structure that emphasizes research rather than teaching. Faculty development programs that have evolved have shown limited effectiveness. A new type of program, Faculty Career Development, includes faculty retraining, career changes, and early retirement incentives. This new focus raises questions about the future of academics as a career. To promote a healthy climate, educators must become more knowledgeable about adult development and career stages. A reform of the academic reward system is needed. The present crisis can be turned into an opportunity for revitalizing faculty careers. This document includes a 19-item bibliography and an order form for related research reports available from the Association for Study of Higher Education, including the full report upon which this summary is based. (DC)