This paper attempts to discuss whether HRM represents a new approach to managing employment relationships in developing countries.It defines with brief descriptions the main key terminologies namely employment relationships, HRM and PM.The basic philosophy and values enshrined in the HRM model are explored.It compares and contrases HRM, welfare, traditional Personel Management and Industrial relations approaches.It pulls the threads together to draw a balance sheet of the discussion by portraying that HRM is an evolutionary rather than revolutionary process