Problems that threaten the future careers of faculty and the quality of education at colleges and universities are reviewed, based on a literature review. It is suggested that new federalism, decreased revenue, declining enrollments, increased state and federal regulations, and public demand for accountability have threatened the ability of higher education institutions to retain their vitality and to attract quality and innovative faculty. Three broad categories of strategies developed to combat these threats are: fund-generating strategies, organizational strategies, and expanding career strategies. Fund-generating strategies are either external revenue generating (i.e., new funds brought to the institution from new external sources), or internal revenue generating by reallocation of existing funds. These revenues are then used to hire new faculty, or retrain old faculty to meet demand in growing areas. Organizational strategies involve faculty in the development of solutions to solve problems. Expanding career strategies are characterized as counseling faculty to consider other career options. This may involve retraining for another academic area, or a career outside of academe. The retraining is usually supported financially by the institution. (Author/SW)