The “HRM project” and managerialism

Purpose This paper aims to present a detailed examination of the relationship and debate between realist understandings of HRM, on the one hand, and discourse‐based notions of HRM, on the other. The objective is to provide a basis for a possible debate between these, seemingly contradictory, perspectives. Design/methodology/approach The paper argues that these perspectives can be integrated if one adopts a perspective that overcomes this dualism by thinking of HRM as a “project” where speech acts and non‐linguistic forms of action are seen as interdependent. The paper uses interview extracts in order to illustrate how the HRM Project gets constituted but also resisted in the context of a post‐privatisation electricity company. Findings This paper is predicated on the notion that the discourse of HRM is closely intertwined with the shift in power relations between employers, managers, employees and trade unions from the early 1980s onwards. In order to capture the broader context of the discourse it is suggested that the notion of an “HRM Project” includes not only language but also practices, boundary‐spanning linkages, and external agents such as regulators and financial institutions. Originality/value Builds on the notion of discourse as a strategic resource.