Abstract
This paper explores the role human resource management (HRM) has taken in Hungarian firms since the country moved towards a market economy. Three sources of data (a questionnaire of 165 international joint ventures, interviews with six senior foreign representatives and observations of forty client firms) provide an in-depth view of the transitional economy. Multinational corporations' (MNC) participation in Hungary is evolving through deeper managerial involvement and greater capital commitment. This evolution affects their headquarters' role in setting their local HRM policy. The greater the foreign participation of the MNC, the more the MNC influences the HRM policy of the local organization. The status of the five major HRM activities (planning, staffing, compensation, training and employee relations) is described against the backdrop of the transition from socialism to capitalism using the transition's three basic elements: price and market reform, restructuring and privatization and redefinition of ...
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