I couldn't believe this: “The next thing is to figure out what exactly it is that allows humanities grads to do as well as they do in the labour market...” 

Lots of grads have figured it out: luck, timing and the ability to sell oneself--BEFORE graduation. Same as grads in many other disciplines. That's not the point of the article, which is, supposedly, about why and how "universities adapt."  Let's start there.

There is a great deal of evidence to suggest that universities don't necessarily "adapt" to their students, at least in the US.  Humanities students have fewer "schools" to choose from, simply because many universities "follow the money" and the money's coming from science-and-technology industries.  They are adapting to fund flow. THAT is why, in many cases, humanities are a shadow of their former selves.  

For more on this , read "Trees on Mars, Our Obsession with the Future, by Canadian social commentator, Hal Niedzviecki.