It can be done in one pass (step) using a DFSORT JOINKEYS job like the following (I assumed the input files have RECFM=FB and LRECL=80, but the job can be changed appropriately for other attributes):
//S1 EXEC PGM=SORT
//SYSOUT DD SYSOUT=*
//IN1 DD *
Record-1
Record-2
Record-3
Record-4
//IN2 DD *
Record-5
Record-6
Record-7
Record-8
//SORTOUT DD SYSOUT=*
//SYSIN DD *
JOINKEYS F1=IN1,FIELDS=(81,8,A),SORTED,NOSEQCK
JOINKEYS F2=IN2,FIELDS=(81,8,A),SORTED,NOSEQCK
REFORMAT FIELDS=(F1:1,80,F2:1,80)
OPTION COPY
OUTFIL BUILD=(1,80,/,81,80)
//JNF1CNTL DD *
INREC OVERLAY=(81:SEQNUM,8,ZD)
//JNF2CNTL DD *
INREC OVERLAY=(81:SEQNUM,8,ZD)
/*
The Nov, 2009 DFSORT PTF must be installed in order for JOINKEYS to be used.
It can also be done in 3 passes (one ICETOOL step) without using JOINKEYS.