過去,有許多學者曾對於“人力資源管理實施對公司績效的影響”做過相關的研究, 但卻只有少數的學者提到有關人力資源管理實施的改變對公司績效的影響研究。因此, 本研究想要探討在經濟不景氣的情況之下,人力資源管理實施的改變對於員工的工作滿 意度、工作績效以及公司績效之影響。 本研究的樣本是來至《天下雜誌》在 2009 年公布的台灣千大企業的。在此,本研 究只探討人力資源管理實施之招募徵選活動、薪資福利以及員工訓練發展,因為本研究 相信在經濟不景氣的情況之下,這些實施是比較容易受到影響及改變的。 研究結果顯示,人力資源管理實施的改變的確與工作滿意度是有正相關性的,但僅 有招募徵選活動的改變和員工工作績效顯現正相關系。當中,工作滿意度為招募徵選活 動的改變和員工工作績效的中介效果。研究結果也顯示,除了投資報酬率之外,其它公 司績效與人力資源管理實施的改變具有正相關。 The link between Human resource management practices and performance has been studied and given great emphasis on by past researches who proposed to understand the relationship between them, but little has been touched on the importance of changes in HRM practices when firms are faced with economic downturns. The present study emphasizes on the relationship between changes in HRM practices and performance. This study investigates the relationship between changes in HRM practices (such as staffing, compensation & benefit, and training & development practices) and their effect on HR-related outcomes (such as job satisfaction), as well as more distal outcomes (such as job performance and firm performance) with samples coming from companies that were listed as 1000 best companies to work for in Taiwan by Commonwealth magazine in the year 2009. The result revealed positive relationships between changes in HRM practices and job satisfaction, but only change in staffing practices was positively related to job performance. Job satisfaction mediated the relationship between changes in staffing practice and job performance. The study also revealed positive relationship between changes in HRM practices and most of the indicators of firm performance, except for return on assets. Practical implications of the results are discussed.