Ethical Values

Recognize how personal and ethical values can be applied in the context of people practice

INDICATIVE CONTENT, REFLECTED IN THE SLIDES THAT FOLLOW:
The importance of knowing one’s own personal values and using these as a framework for behaviour and practice. Knowing how personal values integrate (or not) with organisational and/ or professional values and if/how differences can be reconciled. Recognising how personal values and beliefs shape ways of working and work relationships – and the impact of this for colleagues. Demonstrating professional courage – speaking up for ethical standpoints within the workplace and supporting others to do the same. The influences of cultural differences and expectations.

ETHICAL VALUES
You can define ethical values in business in much the way they’re defined in personal life. The ethics definition, the Corporate Finance Institute (CFI) asserts, is a set of moral principles that spells out how you, your staff and your company should conduct yourselves. Ethical values matter because there are always temptations to improve your bottom line by unethical actions. Without strong ethics, you might succumb.

Source: Definition of Business Ethical Values (chron.com)

PERSONAL VALUES
Values are the foundation of an individual person’s ability to judge between right and wrong. Values include a deep-rooted system of beliefs that guide a person’s decisions. They form a personal, individual foundation that influences a particular person’s behaviour.

EXAMPLES OF VALUES
There are examples of values everywhere in your daily life. For example, if your value system is founded upon honesty, you would probably choose to study for a difficult test rather than cheating for a passing grade. However, if you value achievement and success over honesty, you may decide to cheat on the exam instead. This relates to which value is “worth more” to the individual. Other examples of values include:

• a person who values integrity admits that they stole a piece of candy
• someone who values friendship drops everything to help a friend
• people who value a healthy lifestyle make sure they have time to work out in the morning
• a person who values success works late nights to achieve a promotion
• someone who values commitment may be more willing to go to marriage therapy than to file for divorce

These values form our personality types. They also help us make decisions that affect the course of our lives.

Source: What’s the Difference Between Ethics, Morals and Values? (yourdictionary.com)

HOW DO PERSONAL VALUES IMPACT ON WORK AND PROFESSIONAL RELATIONSHIPS?
Your values describe what is important to you in the way you live your life. They give meaning to your life, are the foundation for your beliefs, they influence your decisions, actions and behaviour and impact the life you choose to lead. Examples of values include respect, openness, independence, privacy, financial security, creativity, optimism, happiness, family oriented, success, healthiness, compassion, kindness, perseverance, spontaneity, trust, perfection, modesty, loyalty, fun, professionalism and accuracy.

Everyone has a different set of values with varying degrees of importance given to each value. You may be conscious and very aware of your values or you may hold them in your subconscious acting on them but not being consciously aware of them. When you live your life in line with your values you are likely to feel fulfilled, however where your values are in conflict with each other or how you are living your life you may feel stressed and unhappy.

So how do your values impact you at work or in your business?
(Read behind the link for some examples you could draw ideas from)

Source: How do your values impact you at work or in your business? Business Mentoring, Business Coaching, Business Tips, Business Mentor, Business Coach (makinithappen.co.uk)

CIPD FACTSHEET – ETHICAL PRACTICE
In 2015, our Best to good practice HR research found that while HR professionals want to make ethical decisions, there’s often a gap between that ambition and actual practice. Practitioners sometimes feel they have to compromise on their principles because they feel under pressure from the business. Since the remit and identity of HR has been closely tied to organisational goals, the ability of people professionals to operate independently, with the power to challenge organisational decisions when they violate ethical values, has been questioned.

Our 2020 People Profession Survey found that most people professionals said they would not compromise their professional principles in their work. However, around a quarter reported that

meeting business needs and pressure from senior stakeholders as areas where they are more likely to compromise. Developing a strong sense of purpose and identification with their people profession can equip practitioners with the courage to challenge unethical practice.

Source: Ethical Practice and the Role of People Professionals | Factsheets | CIPD