Debate over the "skills gap" and how to address it has consumed considerable space in discussions about U.S. higher education, workforce development, and economic strength. The conventional narrative describes a fundamental mismatch between the skills that employers say they need in their employees and the skills that jobseekers possess, most often in what are called STEM fields. The resulting problem is clear: employers can't get the talent they want, and individuals can't get the jobs they want. The implication about higher education is equally clear: U.S. colleges and universities are failing to prepare their students for the workforce. This paper briefly reviews the emergent understanding of skills gaps, examines what some in higher education are doing to address these problems, and then turns to what more can be done to provide equitable access to strategies that improve students' employability, shore up the talent pipeline, and ultimately increase the value of postsecondary credentials for all.