Many demographic studies predict a large gap when it comes to replacing baby boomers in executive, managerial and other key positions. Despite a difficult economy, competition for talented employees will eventually increase. Early succession planning is necessary to ensure that the availability of ready leadership talent keeps pace with organizational changes, growth and turnover. Best practices are applied to support the ongoing development of appropriate skills and the identification and promotion of new talent so that continuity can be ensured and the organization can continue to evolve.