Objective This study investigates the differential functioning of cultural and intellectual openness (the two aspects of Openness to Experience) in relation to social cognitive processes by examining how they influence people's perceptions and interpretations of social information when deciding to initiate working relationships. Method Using a policy‐capturing design, 681 adult participants were asked to rate their similarity to and preference to work with potential work partners characterized by varying nationalities and levels of work‐related competence. Multilevel moderated mediation was conducted to simultaneously evaluate whether the indirect effects of potential work partners’ characteristics (i.e., nationalities and levels of work‐related competence) on work partner preference through perceived similarity were moderated by cultural and intellectual openness. Results Perceived similarity mediated the relationships between work partner nationality and work‐related competence and participants’ work partner preferences. Furthermore, the negative indirect effect of work partner nationality on work partner preference via perceived similarity was attenuated by cultural openness, and the positive indirect effect of work partner work‐related competence on work partner preference via perceived similarity was strengthened by intellectual openness. Conclusions Cultural and intellectual openness may have distinct functions that influence how people perceive, evaluate, and appreciate social information when making social judgments.