Emerging research evidence across multiple industries suggests that thriving at work is critically important for creating sustainable organizational performance. However, we possess little understanding of how factors across different organizational levels stimulate thriving at work. To address this gap, the current study proposes a multilevel model that simultaneously examines contextual and individual factors that facilitate thriving at work and how thriving relates to positive health and overall unit performance. Analysis of data collected from 275 employees, at multiple time periods, and their immediate supervisors, representing 94 work units, revealed that servant leadership and core self‐evaluations are 2 important contextual and individual factors that significantly relate to thriving at work. The results further indicated that thriving positively relates to positive health at the individual level, with this relationship partially mediated by affective commitment. Our results also showed that collective thriving at work positively relates to collective affective commitment, which in turn, positively relates to overall unit performance. Taken together, these findings suggest that work context and individual characteristics play significant roles in facilitating thriving at work and that thriving is an important means by which managers and their organizations can improve employees' positive health and unit performance.