Applying institutional approach, the author of this article based on western sources, retraces changes going on in the sphere of industrial relations management in economically developed countries under the influence of the processes of globalization and localization. Existence of two ideal types of these countries is noted: those styled as liberal market economies, and as coordinated liberal economies, — which differently respond to the above-mentioned processes. Primary attention is given to the experience of the European Union. The appearance of a global, supranational level of management and, besides, the growing role of the local level (the level of enterprises) are stated. It is argued that adaptation of the institutions discussed to the new conditions of functioning lies to a great extent with “institutional heritage”.