While most research reveals procrastination to be detrimental, an increasing stream of studies has suggested that procrastination might potentially be conducive to individual growth and improvement. Drawing on self-regulation theory and the procrastination literature, we develop a theoretical framework of approach- and avoidance-based procrastination to investigate the bright and dark sides of employee procrastination. Results from a three-wave field study with 183 employees and 23 immediate managers showed that for employees high in promotion focus, procrastination-approach leads to increased task performance and creativity by increasing work engagement; conversely, for those high in prevention focus, procrastination-avoidance decreases work engagement, thereby reducing task performance and creativity. Overall, our research reconciles the competing theoretical rationales and conflicting empirical evidence on the consequences of employee procrastination by investigating for whom and how procrastination-approach and procrastination-avoidance can be beneficial or detrimental.