One of the most significant and most difficult issues in management by values that is significantly decisive in terms of the sense and effectiveness of such management is the relation of values deemed to be important for the personnel policy and management of human capital. Due to the nature of material, it does not seem that there would be more possibilities of creating close, algorithmic ties in connection with all the values that are acknowledged to be important. Nevertheless, we present the view that such ties should not be restricted to the issue of notions, or designating directions, but it would be necessary to move one by establishing at least sensible principles that are possible to accept and which are binding within the personnel policy and management of human capital.

In the afore said research, we asked the respondents to take account of the values in terms of the following:

Taking account of values during the recruitment and selection of people

This is a compelling and promising, yet a difficult issue from a substantive viewpoint. On the basis of personal experience and contacts, as well as subject- related literature, we thought that values acknowledged by a candidate for work are rarely analysed profoundly in routine procedures. It is usually the requirements of the work position that are taken into account, which are defined in the profile of the position either in the professiogram or in more modest terms, in the analysis by the specialist of issues of personnel or “head-hunters” with the manager the one to commission such activity in search of an employee. In smaller organizations, the entrepreneur /employer generally runs the interview with the candidate and asks him about professional issues that he feels are significant from the viewpoint of his own expectations. Likewise, he also takes account of the general impression and tries to imagine if the candidate would “fit” into the organization, tasks and with other people.