Building Ethical Capital through Human Resource

Abstract

Purpose: Both in the professional world and the academic world, there is a rising interest in modern-day business ethics. However, ethical violations continue to occur in the course of business operations, prompting academics and professionals to re-evaluate the current state of affairs and devise innovative new approaches to the problem of effectively managing ethics in business organizations. The goal of this study is to assess the most successful means of creating an ethical culture in the workplace for building ethical capital within the greater framework of human resource management practices.

Design/Methodology/Approach: This is a review paper. Content analysis was done to compare and contrast the existing knowledge and potential practice based on model analysis considering Structure-related, organizational and individual constraints in the workplace. The classroom discussions among professional appearing as Masters scholars having more than 5 years of experience has enlightened the contextual comparison of the theoretical body of knowledge in the study. 

Findings/Result: In light of this, although attempts to market ethics are primarily directed on utilizing and developing clear, documented formal mechanisms, the literature argues that alternative tools are equally important and required to accomplish this goal. Due to the significant impact that HRM ethics and practices are believed to have on staff employees, there has been a recent surge in interest in the study of the role that Human Resource Management (henceforth, HRM) plays in promoting ethical behavior in the workplace through standards, training, and codes. In the workplace, the institutions and interactions all work together to do what's right, even when it's difficult to do the right thing, core values will drive value-creating initiatives. Compliance will keep us out of trouble, but virtuous ethics will produce value for both our co-workers and our organization as a whole.

Originality/Value: A comprehensive examination of the role that HRM systematically signifies in generating an ethical workplace for the organization.

Paper Type: Review paper