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The management of the job‐loss situation is becoming of central importance to top management and human resource executives in the current climate of redundancy. The current nature of severance packages and the provision of outplacement may be interpreted as a move towards normative practices within the policy making of many UK organizations. Reports on the results of a recent survey of over 600 UK organizations. The survey covered organizational perspectives on redundancies and the use of outplacement in the event of redundancy. The results indicated a change in corporate values in the 1990s. There appeared to be a move towards normative practices in the management of redundancy and in particular in the use of outplacement as a moderator of the potentially detrimental impact of the redundancy situation.

Explains that fast‐track programmes have traditionally been the preferred mechanism for recruiting and developing high potential graduates to become the senior management cadre of the future. However, many recent changes within organizations have led to more fluid structures that no longer support traditional hierarchical career progression opportunities. Presents a qualitative study of 20 major fast‐track recruiters which was designed to explore the philosophies, strategies, and human resource management policies and practices used to manage the careers of the fast‐track population, within the current context. Demonstrates that for many organizations, owing to internal and external changes, there has been a shift in career philosophy. Organizations are revising their career management policies and practices, to reflect the “new deal” offered to fast‐track graduates. Highlights some apparent paradoxes between organizations’ career philosophies, policies and practices and the fast‐track philosophy.

The current rhetoric about the demise of traditional concepts of “career” poses a challenge to organizations which rely on the development of managerial talent through fast‐track programmes. Reports on the career management philosophy, strategy, policy and practice of 20 organizations which are major graduate recruiters. Human resource and career management specialists responsible for fast‐track recruitment and career development within these companies provided information via semi‐structured interviews. Data were analysed using content and thematic analysis with the aid of a qualitative data analysis package to elicit patterns and trends in the approaches being used. Organizations varied in the extent to which they were attempting to achieve a shift in the employment relationship offered to graduates. Symbolic shifts were being generated through both cultural and process changes in an attempt to move from a traditional notion of career to a transactional‐type relationship with graduates, based on opportunities for development.