Abstract The majority of research on voice has focused on how employee voice influences voicers and targets of voice (e.g. supervisors and organizations). We advance theory on voice by examining how third‐party observers react to expressions of voice behavior by coworkers. Drawing from affective events theory (AET), we examine the potential benefits and detriments of coworker voice behaviours. Results from an experience sampling study and an experiment revealed that coworker voice was associated with an increase in third‐party observers' inspiration, prompting third‐party observers to engage in their own voice behaviours. Although coworker voice did not have a significant main effect on third‐party observers' distress, this relation was moderated by third‐party observers' zero‐sum beliefs. Specifically, daily coworker voice behaviour was more positively related to third‐party observers' distress when third‐party observers' zero‐sum beliefs were higher (vs. lower). Third‐party observers' distress, in turn, was associated with an increase in interpersonal deviance behaviours. Overall, our theorizing and model answer why, when and for whom the bright versus dark side of coworker voice is likely to occur for third‐party observers.