Dear Praveen Palaria,
The human mind is too complex. It will be difficult to judge the behavior of a person based on the replies to a few questions. Therefore, it will be challenging to determine whether the questionnaire method will work or not.
Consider the Case Study Method
However, you may consider using the case study method. It is slightly more effective than a questionnaire. Nevertheless, designing the case studies will also pose a challenge as the job candidate should not be aware of the purpose of the case study. Otherwise, the candidate may provide biased responses to the case study. However, this method is also not foolproof.
Behavioral Interviewing
The last method is "Behavioral Interviewing." However, analyzing the responses to the behavioral questions requires special expertise. Interviewers have to undergo specific training, and they may require guidance as well. Is your company willing to invest in training the interviewers?
Assessing Candidate's Values
By the way, why is there a need to ask questions to assess the candidate's values? Has your company explicitly defined its values? If yes, do the managers in general, and top management in particular, embody these values? Has your company defined the concept of "ethical business practices"? Has your organization conducted a survey to assess whether values are practiced in day-to-day work and whether ethical business practices are followed? If no survey has been conducted, why do you expect a candidate to demonstrate these practices when there is uncertainty about their application within the organization?
Thanks,
Dinesh Divekar