The organizational environment this suffering constant mutations, either for the technological advance, the globalisms or the increase of the competition that is each more aggressive time. To remain competitive the companies they are obliged if to become more flexible and versatile and this not only means change in its procedures, but mainly as for the management of people, therefore the human capital is considered a hardly copied. The objective of this study was more specifically to present the difficulties faced for the middle manager levels in its paper as mediating of the labor relations and of the psychological contract of its subordinate. For this, this dissertation approaches four great subjects as: leadership in the current context, the management changes in the labor relations, challenges and psychological contract. In way to try to understand these changes and the management dilemmas, had been carried through interviews half-structuralized with 21 middle managers of public companies and private of different transports and sectors. The interviewed managers possess some attributions, amongst them to be mediating in the labor relations between the subordinate and the companies. The result of the interviews evidenced that the changes suffered in the organizations had provoked significant alterations in the management profile and the labor relations. It was verified that the average manager beyond being a influential, if it became more sensible and next to directed and leading its, making possible with this the identification and treatment of the involved expectations in the labor relations, with intention to obtain a balance between the parts.