Although authors are increasingly addressing the specific needs of men and women at work, no theory based comparison of how employment affects their psychosocial well-being has been available. A six dimensional index was developed to explore a social exchange model of the associations among employment, psychosocial well-being, and worker productivity for men and women. Findings based on two samples of 41 (instrument pretest) and 143 (model test) employed and unemployed union workers suggest strong reliability and validity estimates for the index, support for the model, high explanatory power, and different results for men and women. Implications for further research and recommendations for developing employment programs to enhance gender specific social well-being and worker productivity are discussed.