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waiting for distributed information to the proactive search and selection ofappropriate information from available databases.As to the flexibility of HRM, it is manifested by the use of various employmentstatutes for the precise and targeted mobilisation of the workforce %u2013 fromcontracts for fixed-term employment or for reduced working hours, theemployment of independent workers, to employment on the basis ofagreements or the use of student work in the form of part-time jobs andinternships. All of the mentioned forms of employment contract allowcompanies to adjust the status of their employees flexibly as needed, or at thesame time save on wages or at least on mandatory contributions. Therequirements for flexibility must also include the ability of managers to effectivelymanage and use space, which can be problematic in connection with virtualand electronic work, as well as the competences of HR management leadingon the one hand to the gradual reduction of unqualified employees and on theother hand to securing and maintaining specialists or experts whose need isgrowing due to the constant development of information and communicationtechnologies. It often involves the creation of new jobs that did not exist two orthree decades ago: network or intranet administrator, webmaster, knowledgemanager, database administrator, etc.All the mentioned facts represent economic factors determining humanresource management policies, which must be based on strongly motivatingmanagement practices if they are to awaken and maintain the initiative andcreativity of employees in today%u2019s fiercely competitive environment, i.e. the realwealth of the company leading to the growth of its performance, which wasalready discussed on at the turn of the century by several authors (G%u00e9linier,1999; Petit et al., 1993; St%u00fdblo, 2001).Changes in the social environment in advanced economies are taking placein parallel with the change of generations, and they already began to becomemore pronounced in the period when the post-war generation of baby boomers(born between 1945 and 1960) were gradually replaced in the workingenvironment by the generations born between 1960 and 1980, known asGeneration X. Even more significant social changes occurred with the arrival ofgeneration Y, whose members were born from 1980%u20131995, and which is nowbeing replaced by generation Z (born at the end of the 90s), also denoted bythe letter C, which appropriately expresses its main attributes: communication,connection, collaboration, and creativity. The mentioned alternation ofgenerations is gradually and increasingly rapidly transforming the socialenvironment in such a way that the attitude of employees towards work andtheir behaviour in companies is radically changing. Thus, HRM was and isgradually confronted with many facts that didn%u2019t exist in the period of the firsttwo post-war generations.882 European Entrepreneurship