As labour market dynamics evolve, so too will the dynamics of the employer-employee relationship. In particular, there will be a shift in power from the employer to the employee. This will have implications for HR management and leadership. The aim of this chapter was to analyse the impact of the power shift by breaking it down into the stages of the employment deal. To this end, Incentive Contribution Theory is used to develop the employment deal process and the stages involved. In addition, the Net Benefit Concept and Total Cost of Ownership Theory are applied to HRM. The implications are then presented and conclusions drawn. In particular, the shift towards employee centricity and the associated restructuring of many business processes will require a different approach to communication in the workplace. This will entail a more professional and employee needs-driven style of communication, aligned with the values and purpose of the new generations in the workforce. Overall, the chain of effects has been consistently played out.