The field of human resource management is one of the most dynamic and challenging
areas for European managers. The turbulent business climate, caused by increased global
price competitiveness, changing technologies, changing employment legislation, and
changing workforce composition is challenging managers to utilize their employees more
effectively to gain competitive advantage. In recent years there have been significant
practical developments with increasing numbers of private and public sector organizations
adopting HRM initiatives alongside downsizing and 're-engineering' the organization. The
change towards more knowledge-based work and the growing acknowledgement that
workers are the key to sustainable competitive advantage have strengthened the case for
'new' human resource management initiatives.