This multi‐method study examined disclosure decisions made by employees with depression as well as their motives for those decisions. In Study 1, we conducted in‐depth interviews with employees who had been diagnosed with depression to better understand why they chose to disclose or conceal their depression at work. Based on the results of the interviews, both approach and avoid motives for disclosure and concealment emerged in the analysis. Further, these motives were influenced by multiple organizational factors including social support, stigma, and diversity climate. In Study 2, we developed and validated a scale to measure approach and avoid motives for disclosure and concealement. In Study 3, we tested approach and avoid motives as mediators of the relationships between organizational factors and employee outcomes (i.e., engagement and presenteeism). We tested our model among 223 working adults with depression. Our results provided support for the hypothesized relationships among those who disclosed but not those who concealed, suggesting that when employees disclosed for approach reasons they were more likely to be engaged, and when they disclosed for avoid reasons they were more likely to engage in presenteeism. These findings provide both theoretical and practical contributions to the study of concealable identity management and to employees with mental illness.