In global economic growth, every industry has its own challenges such as global market demands, economic restructuring through mergers and acquisitions, multiculturalism due to diverse workforce, increased opportunity for skilled workforce resulting in attrition, downsizing and high expectations from the stake holders, ,due to which employees feel demoralized, dehumanized, devoid of energy and no longer being connected with the job and the organization (Ashmos and Duchon 2000; Laabs 1995). This decline in sense of belongingness has urged top managements to emphasize on inclusion of broader spectrum of ethical values in the workplace. Review of literature is the primal move while conducting the research work. It facilitates the researcher with adequate preliminary knowledge about the selected area of study and to understand the concepts about the study. In addition, it also aids the researcher to get sufficient idea about previous studies conducted in relevance to the study, how it can be extended further and the lapses existing in the previous study which can be reformed. This paper deals with the meaning and definition of values, work values, workplace values. It also focuses on relation between work values and workplace values.