Many papers and researchers rightly conclude, that HCM holds the moral ‘stewardship’ of organizations, standards, values, morals and ethics (Winstanley and Woodall, 2000) as it plays an important part in building an ethical and moral climate in organizations. Each day, in the course of executing and communicating HR decisions, managers have the potential to change, shape, redirect, and fundamentally alter the course of other people’s lives. For each HR practice, there are winners and there are losers. Ironically, Management of Human Capital (HRM) itself deals with a lot of ethical challenges, both at the senior levels involving strategic decisions and middle management involving treatment of individual employees.
This paper is exploratory, reviews various ethical philosophies, and analyzes their deficiencies and related shortcomings while applying them to Human Capital Management (HCM) as a discipline. These ethical concerns and questions are raised to evaluate the applications of ethical philosophies to practical HCM. The paper concludes with practical recommendations for HR managers.
Published in the SMJV's Journal of Management- SANKALP, Institute C K Shah Institute of Management, Vadodara, Nov 2010 ISSN 2231-1904 ; Impact Factor – 2.813 in February 2016