"are happy workers productive" = not necessarily, I have known workers who had to be dusted like a piece of furniture who were supremely happy at their job ---------
" or productive workers happy" = again, not necessarily, I have known absolute powerhouse workers who hated their jobs
In either case, I do think that generally a happy worker IS more productive and most workers who are productive at their job tend toward being more satisfied.
There's a third choice here : the happy productive worker - but that one is self-explanitory.