A Talent Pool is a group of high potentials that are being prepared to go into future positions without regard to having a specific position identified. Replacement Charting is a process of Succession Planning that aligns a person with a specific position.

In today's economy with rapid changes in markets, products, services, etc, there are often rapid changes in how organizations arrange themselves to meet their customers. This dramatically impacts the kind of talent required in the short and long term. Succession Planning needs to be done in a manner that matches the rapid shift in organizations. For this reason Talent Pools are preferred by many organizations.

There may be businesses whose markets, products or services are insulated from rapid change and therefore may prefer Replacement Charting as the preferred approach to Succession Planning.