The inducements of the study were the unexplored mechanisms that explain how HRM results in performance. Here, this so called "black box" (Bowen & Ostroff, 2004) has been discussed in the context of HRD, as it is the most important part of HRM (Horwitz, 1977). In contrast to prior research, the present study included the perspective of the employees (perceived HRD) and compares it to the HR managers' perspective (intended HRD). The HR managers' perspective is seen as an objective measure of the HRD interventions available within the organization