Moving from hard - resource focused management towards more soft people related management, HRM becomes more social responsible while taking care of peoples needs not only at the work place but also within their life. Since employee’s life plays an important role in development of highly efficient workforce, new human resource management policies are applied with direction towards peoples work life balance, family friendly policies, flexible working and others. An important element of peoples work life is their attitude towards work and their individual values. Individual values are not only affected by decisions taken by managers, but also affects decision makers self’s. Human resource managers are therefore indirectly challenged to become strongly unbiased while taking more or less important decisions, and constantly looking for balance between companies needs and needs of their workforce. Although no many studies have been produced in order to support importance of relation between individual values and decision making, writers pronounce that there is a need for examination of that correlation. Some general studies about decision making offer various perspectives and concepts while explaining decision making processes. After describing some core information about individual values and decision making, focus of this paper will be directed towards description of some biases which come from people’s behaviour as a consequence of their values preference and how it can affect manager’s decision making particularly in relation to HR issues.
Individual values are strongly related to the person’s beliefs about what is good and/ or desired from life. Arnold et al., 2005 Very often described in relation to person’s attitude, viewpoints or even moods Georg ...