In the human resource management (HRM) literature there is a fundamentalquestionregardingpotentialtrade-offs betweenorganizational performance and employees’ wellbeing in contemporary organizations (Peccei, 2004). This highlights tensions between a managerialistic-oriented approach and criticism deriving from the critical management approach (Boxall, 2013). The main focus of mainstream approaches to HRM, and basically the “hard HRM” tradition with high performance work practices is on the firm’s performance and interest. Hence, the main goal of analysing the effects of HRM practices on employee outcomes has been to optimize resources towards the ultimate interests of the company (Appelbaum, Bailey, Berg, & Kalleberg, 2000; Guest, 2011) with little emphasis on employees’ interests and wellbeing (Boxall & Macky, 2009; Kehoe & Wright, 2013). For the criticism perspective, employees’ commitment and involvement are seen only as mechanisms for achieving organizational results, the firm’s interests often prevailing over those of the employees (Godard, 2004; Ramsay, Scholarios, & Harley, 2000). Adverse effects can appear in employees, suchas job stress andburn-out(Lopes, Lagoa, & Calapez, 2014; Ramsay et al., 2000). These have been studied much less than positive effects (Van de Voorde, Paauwe, & Van Veldhoven, 2012). Business ethics has emerged as a growing field of interest, and within this framework a “business case” (Vogel, 2005) for the ethical management of people can also be found, along with normative and evaluative prescriptions for contemporary HRM practices (Spencer, 2013). In some cases these have given rise to codes of conduct aimed at promoting ethical HRM practices (Diller, 1999). A value-laden ethical approach to HRM represents an important way forward in the analysis of the HRM–performance relationship. This approach involves organizations taking care of employees’ needs and ensuring they are treated with due consideration for their wellbeing (Paauwe, 2009). Employees’ needs and wellbeing are also the object of interest of international organizations such as the International Labour Organization (ILO), the European Union and the United Nations Organization. They promote corporate social responsibility (CSR) in firms’ actions and management. One of the spheres of CSR is the management of employees, and codes of conduct, recommendations and so on have emerged from these organizations (Boiral, 2003; Diller, 1999). These are the basis for national actions that go in the same direction, that is, firms being “socially responsible” towards their employees.