This work attempts a state-of-the-art evaluation of the field of Human Resource Management theory as it applies to the important area of labour market flexibility. It examines a number of theoretical arguments that propose greater economic efficiencies from management strategies that suggest various approaches to more effective use of the labour force. These range from various theories involving the notion of human capital, to perceptions of autonomous self employment and on to considerations of the idea of empowerment as a means to obtain not only efficiency in production, but loyalty and real commitment to the goals of the organization. The work concludes with the notion that the views expressed are far too diverse to make for a current working synthesis of any real stability.