The idea of ethical stewardship has evolved as businesses have evolved; as laws were created to enforce better working conditions for workers, principled and fair treatment of employees has also become essential. Ethical stewardship has a number of practical applications in the workplace.
First, employers concerned with ethical stewardship should pay fair wages to employees. They should also demand of their employees manageable work hours and tasks. In addition, employees should have the ability to approach employers with requests and issues and should have a sense that they are heard.
Therefore, the idea of being an ethical steward means taking charge of an organization, household or finances by following a guiding set of principles and morals. The original definition of a "steward" originally referred to a person who managed the running of a household or estate, supervised servants, collected rents and kept business accounts.
Stewardship refers to management, particularly of others' finances, goods or household. This may mean the steward is in charge of employees, the workplace or finances belonging to shareholders.