The Society for Human Resource Management has recognized Providence Health & Services and 14 other companies nationwide for innovative efforts to confront the impact of the economic downturn on employees.

With more than 16,000 employees, Providence Health & Services in Oregon, which includes Providence Health Plan, is the state's largest private employer.

Discounts from the LifeBalance Program, offered by Providence Health Plan to all fully insured groups, were a cornerstone of the campaign. Employers can roll out their own Inflation Busters program using convenient flyers (PDF) available in print-ready files from our healthy employee paycheck stuffer program website. Printed copies are available in small quantities from Providence Health Plan account managers.

By the summer of 2008, many Providence Health & Services employees in Oregon were expressing concerns about the rising costs of food, gas, goods and services. In November, the organization announced major reductions in operations and capital expenses as a result of the economic downturn.

In response, Providence Oregon Human Resources, in cooperation with Public Affairs and other departmental partners, launched a one- to two-year initiative called "Inflation Busters" to gather and enhance educational, transportation, retail, recreational and wellness benefits available to employees.

The goal was to promote retention and to help reduce the impact of national economic woes on employees by promoting low-cost, high-value perks, discounts, incentives, work flexibility and education.

"Inflation Busters" kicked off with an Aug. 4, 2008, letter to all 16,000 Providence employees in Oregon from Russ Danielson, Oregon chief executive, and Terry Smith, chief operating officer. Included with each letter was a $25 gift card and a calendar of "sustainable living fairs" to be held over a three-week period at 13 hospital and business-office locations in August 2008.

Nearly 7,000 employees attended the fairs, and 38 vendors participated, distributing information, door prizes and giveaways. The value of items distributed to employees was estimated to be in excess of $75,000. Among vendors were regional public transit; energy and recycling organizations; cell phone companies; and Providence wellness programs. Portland-area employees attending the fairs also could pick up free annual public transit passes, which Providence purchased at group rates and are valued at $946 each.

The "Inflation Busters" program became the promotional vehicle for other programs offering discounts and services to Providence employees, including LifeBalance, a partner with Providence Health Plan that offers discounts to members on thousands of recreational, cultural and wellness services.

In early November, an "Inflation Busters" logo and employee intranet site were created. The site contains links to the discount services offered to employees, a page with tips on saving money and staying healthy, and news about how Americans are coping with the economic downturn. In addition, an e-mail address was created so employees could share their own methods for saving money with colleagues.