We have always recognised that a competitive approach to pay and benefits helps us to attract and keep the best people. There is also an important link between reward and performance. In 2003 staff turnover was 10%.

Reward strategy review

In 2003, we started a fundamental review of our reward strategy in order to:

• Deal with inconsistencies between our different businesses
• Provide a way to recognise and promote good performance.
• This major project will continue during 2004, with implementation of its findings expected to take around two years.