PruHealth has partnered with Mercer to launch an index that will measure employer and employee health.
Britain's Healthiest Company will survey workplaces with more than 100 employee to gather health risk insight and trends in the UK's corporates.
The index aims to celebrate the UK's most innovative organisations that demonstrate best practice with the health and wellbeing of staff.
It will also highlight those that are delivering real and measurable benefits in the health of their balance sheets.
Neville Koopowitz, chief executive at PruHealth, said: "With an ageing population, rising retirement age and the increase in chronic diseases linked to lifestyle it is becoming more critical than ever to ensure a healthy long-term workforce.
"Organisations are starting to recognise the link between a healthy workforce and a healthy bottom line, as those that encourage health and wellness within the workplace see lower sickness absence, lower presenteeism and greater productivity. "
Trophies and corporate health reports will be offered with improvement recommendations. And employees will receive a Personal Health Report about their health and recommendations on lifestyle changes they can make.
John Anderson, UK market business leader for health and benefits at Mercer, said working environment was crucial in shaping health and wellbeing given most time was spent at work.
He said: "Employees who feel their employer cares about their health and wellbeing are more likely to be more engaged and loyal, resulting in higher productivity, higher profitability and higher customer support.
"The business case for ensuring a healthy company is indisputable and we are searching for beacons of best practice across the country."
According to the Office for National Statistics, around 131m working days were lost last year to sickness absence and the approximate cost of absenteeism to British businesses has been £32bn each year.
The closing date for entries is 7 November 2012. The results will be announced early in 2013.
PruHealth reported to COVER in July that it was widening its reach beyond speciliast health insurance advisers and looking to build more relationships with IFAs.
