Values are the thoughts or beliefs on which action or behavior of a person depends. It is person’s judgment or learning that what is right or what is wrong.
According to Milton Rokeach, “Values are global beliefs that guide action and judgment across a variety of situations”
In the words of M. Haralambos, “A value is a belief that something is good and desirable”.
Values influence a lot on the behavior of an individual. Values are mostly stable and people show resistance to change.
Types of values:
Terminal Values: These values are considered as most important or most desirable.
These means the desirable end-states of survival, the goals an individual would like to accomplish throughout his or her lifetime. They are many like happiness, comfortable life, self-respect, family security, recognition and professional excellence.
Instrumental Values: Instrumental values are the values that relate to means required for achieving the terminal values. It reflects how a person gets terminal values.
These values are honesty, sincerity, courage and imagination. These values are related to personality qualities and nature.
Importance of understanding values:
Understanding of values of employees in organisation is important in regard to the following reasons.
- Values are the basis of the understanding of needs, motivation and attitudes of people
- Values inculcated in the person influences the perception of individual.
- Value system shapes the manager’s perception in different situation. In other words, it develops the way in which a superior views the employee and the group of employees in the organisation.
- Value system helps a manager to take decisions and find solutions to the different problems at workplace.
- Value persuades attitudes and behaviors. An individual will be more satisfied if has values line up with the organisation’s policies. If the policies in the organisation are different from his values, he will be dissatisfied; the disappointment may lead to job dissatisfaction and turn down performance.
Work ethics represents an important keystone of the modern management revolution in today’s competitive world. Hence, an understanding of the value has become a necessity.
Sources of Values:
Parents, teachers, friends and peer employees may put impact on values of an individual. A cultural and society setup of human being shapes the value system of a person. Values are product of learning and experiences of the life. An individual develops and learns values because of following factors.
Familial factor: Family is the important source of values of a person. During childhood a individual learns from behavior of family members. Parents love and affection shown and punishment given to him leave impact on him that how he should behave in different situations.
Social factors: Social factors like school teachers and friends also affects the value system. A child learns the basic discipline in the school. Relationship with the teachers, classmates and staff in the educational institutions make the child develop values that are required the learning process.
Personal Factors: Personal qualities like honesty, knowledge, ability to do different things and educational qualification of an individual decide his values. For example, if a person with high intelligence understands the values faster than those of having lesser.
Life Experiences: An individual learns the values from his experiences in the life. It’s not like that he does not learn from the experience of others. Self-exploration is the important source of the values. Several experiences of individuals are responsible for development of their values, basis of that is logic behind every event.
Religion: People gain strength and comfort from the religion they follow. Religion gives people a set of values that are being transferred from generations. Now a days due to change in technology and advancement interest of people has reduced in the religion.
Cultural factors: Cultural factors consist of everything that is being passed on from generation to generation. Culture is sum of specific beliefs and other behavior patterns of people. Every individual is a member of certain social culture and professional culture. Culture is product of certain inherent and open values. For example, whether a person is polite, well-mannered or co-operative depends upon the culture he lives in. Relationship forms are different in every culture and within particular groups of society. It is the culture that make him to value accumulation of money or spend money in unwanted things or helping the needy people.