This study examined the mediating effect of stigma on the link between past and future hiring behavior for individuals with serious psychiatric disabilities. Structural equation modeling of data from a randomized controlled trial of 174 employers in Chicago, Hong Kong, and Beijing regarding stigma and employment-related discrimination toward individuals with behaviorally driven health conditions indicated that, for individuals with serious psychiatric disabilities, the relationship between past and future hiring behavior was fully mediated by stigma. Implications of these findings in terms of psychiatric rehabilitation and suggestions for future research are discussed.