This study concerns HRD policy making in companies. More specifically, it explores whether so-called vertical integration of HRD policy at different organizational levels occurs within companies. The study involved forty-four large companies in the industrial and the financial and commercial services sectors. Findings indicate a virtual absence of HRD policy making or strategic HRD alignment in all aspects and at all levels within the companies studied. The HRD alignment process was not really strategic and hardly interactive. It is then problematical to harmonize HRD policy processes in a vertical direction.