Final answer:
The ethical standard for HRM practices is that human resource practices must promote the greatest good for the largest number of people, embodying the utilitarian approach. This aligns with principles ensuring meaningful work and fair employment practices beyond just legal compliance, including reducing bias, promoting equal opportunity, and upholding affirmative action.
Step-by-step explanation:
Human resources managers must adhere to ethical standards that promote the well-being of employees and respect their rights. The correct ethical standard for HRM practices, based on the options provided and ethical theories in business, is that human resource practices must result in the greatest good for the largest number of people. This ethical principle echoes the utilitarian approach where actions are considered morally right if they benefit the majority.
Philosophers like Norman Bowie, applying a Kantian perspective, have argued for the moral obligation of firms to provide meaningful work for employees, ensuring those positions foster autonomy, pay a living wage, and support the worker’s development and pursuit of happiness. Large-scale corporations often face ethical dilemmas when employing workers overseas, where labor laws may be minimal or nonexistent. Despite the lack of government regulation, there is a consensus that corporations must uphold some standard of morality and fair employment practices, ensuring equitable treatment of workers and avoiding exploitation.
Moreover, professionalizing HR functions can help mitigate biases and promote equal opportunity in the workplace. The relationship between managers and employees is also changing, recognizing the value of partnerships and the benefits of a cooperative effort to meet broader organizational goals. Human Resources Institutional & Corporate Management, Equal Opportunity Programs, and investment in human capital become critical components in fostering ethical HRM practices that align with social responsibility and employee well-being.