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Using exchange theory, this study examines how perceptions of employee voice, the employee-line manager relationship, and trust in senior management are related to organizational commitment. It is hypothesized that the direct relationship between perceptions of opportunities for employee voice and organizational commitment is mediated by the longer-term effects of the perceived employee-line manager relationship and trust in senior management. Multiple regression analysis of a sample of 2,291 employees in organizations undergoing signifi cant change fi nds some support for this hypothesis, highlighting in particular the importance of trust in senior management as a partial mediator of the relationship between employee voice and organizational commitment.

Research into how HR contributes to organisational performance is plentiful yet plagued by challenges. Alongside the ‘black box’ issue between HRM and performance, the time‐lag effect and the range of performance indicators applied, the role of the HR department in this relationship is critical although often ignored. A longitudinal case study is presented here that focuses particularly on this issue, and shows a complex picture of improving HR department importance alongside high‐level financial performance, but declining employee commitment and morale. The article suggests that the tensions between the rhetoric of HRM strategy, the grim reality of the employee experience and a lack of focus on human capital meant the outstanding financial performance was not sustainable in the longer term. The inherent conflict in serving both management and employees in process‐and peopleorientated roles is highlighted.