Abstract

Multi-National Companies as the name itself suggest are located in different nations. People are employed in such companies from across the globe, and it includes multiple factors to be taken very delicate care of by the companies. When it comes to people, that is, human resource, their management is a huge responsibility and requires special attention, framing of policies, organizational structure, and culture suitable for every employee, compensation plans, training and development, career enhancement, and many more. The two most important of these are labour standards and framework of ethics. Labour standards vary from country to country and an organization working at the global level should definitely ensure that they meet and are at par with the labour standards of all the countries they operate in. Labour Laws are very crucial and important to be taken care of because it is a human resource an organization is employing in their business. Organizations are taking the help of the labour from the human resource, thereby, it is the duty of such an organization to ensure that they meet all the labour standards and while operating at international levels, they must take care of legislations and legal requirements of all the countries involved in their business. They must most definitely stick to International Labour Standards and the requirements released and updated by the International Labour Organization. Business ethics, on the other hand, focus on the moral obligations which the employer and employee are ought to follow. Ethics deal with morality and the right behaviour and wrong behaviour which people expect you to do and expect you not to do respectively. Framework of ethics are those standpoints which are used for rational decision making and for deciding upon what are the courses of action one must take in order to reach an outcome which is beneficial for the task to be effective and efficient and also is backed up with morality. The framework of ethics differ from place to place. Through this paper the two authors intend to identify how framework of ethics take place at the international level and the various reasons for companies at global level to follow the international labour standards. The authors majorly aim to comprehend the need of international labour standards and framework of ethics, various fundamental conventions of international labour organization, and principles and standards of international framework of ethics.

Keywords