Although a focus on the impending workforce demographic effects of Baby Boomer retirement is out of fashion during the current economic turmoil, a chart in PwC Saratogas 2009/2010 US Human Capital Effectiveness Report starkly illustrates the cause for concern.

Even if managerial and executive retirement is delayed in the short term, a critical group of corporate leaders will be exiting organizations soon. This undercurrent in the workforce requires renewed attention to talent management practices for succession planning and leadership development.

According to this data, you need to prepare today for one of every three managers and one of four executives to be gone tomorrow. A formal succession planning initiative will decrease your business risk while increasing engagement and retention of top talent waiting on the bench.