The study examined the predictive role of perceived employability on attitude towards organizational change and affective organizational commitment via social exchange process. The cross-sectional research design was used and data were collected with self-report measure. 0ne hundred and ninety - four employees were drawn from 8 organizations in Lagos State, Nigeria. The sample consisted of 131 (67.5%) males and 63 (32.5%) females whose age ranged from 20 to 52 years with a mean age of 34.45 years (SD, 6.26). Five hypotheses were tested with the simple and standard multiple regression analysis. Data analysis revealed that perceived employability positively and significantly predicted attitude towards organizational change (β = 0.21, p<0.01), and affective organizational commitment (β = 0.77, p<0.01). Affective organizational commitment was also found to be a significant predictor of attitude towards organizational change (β = 0.11, p<0.01). It was recommended that organizations should carry-out extensive programmes and training that promote employability among its staff because employability is important to the exchange relationship between the employee and the organization