INVESTA Sustainability Report 2007

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About Our Workforce

Investa employees continue to work hard to sustain and improve individual and business performance each year. Achieving business targets requires focus and commitment in the face of internal demands and external pressures, both financially and, in terms of corporate social responsibility which continues to grow in importance, locally and globally.

Since 2005, Investa grew from 247 to 733 employees with the acquisition of Clarendon Property Group, as at March 2007 there were 632 employees. The number and geographic locations and types of work undertaken correspondingly grew. This rapid change has required substantial reworking of the people management process within Investa, review of management capability and changes in management structures. Investa created a new senior human resources executive role in May 2006 to strengthen its people management capability.

In what continues to be a buoyant employment market, the attraction and retention of talented employees continues to require a careful balance of cost management and competitive market positioning in relation to remuneration and benefits. Internal succession planning and people development remains a priority. A number of employee moves between business units has assisted in cultural integration and will continue to remain a focus for the future.

Recent analysis for Investa's annual Equal Opportunity for Women in the Workplace Agency (EOWA) report provided the following demographic data of our workforce:

As at March 2007 43.7% of our workforce was female and 56.3% was male.

88.3% of our workforce is full-time, 6.5% is part-time and 5.2% is casual. Opportunities for employees to move into part-time or job share roles are assessed on a case by case basis and accommodated where possible.

Investa's policy is to promote from within. Internal vacancies are advertised on the intranet, accessible to all employees. Those employees who meet the selection criteria are encouraged to apply.

Women represent 25% of our total Senior Executive team.

For the purpose of this report we have grouped roles into relevant categories in order to report salary ratios. However, Investa does have salary bands: salaries are determined commensurate to the role. Investa is an equal opportunity employer and does not discriminate employees' salary based on gender.

	salary ratio (based on male average salary)	female:male salary ratio by level
Executive level	6.6	0.69:1
Management level	2.4	0.82:1
Non-management level	1	0.80:1

The following methods of analysis are reviewed regularly by the HR team to identify trends and potential people related issues:

• employee exit and hire data;
• workplace demographic data and reports (e.g. Equal Opportunity for Women in the Workplace Report);
• succession planning data;
• performance review and development data;
• employee policies, procedures and benefits; and
• employee assistance program usage report.

Consultation and Feedback Processes

Employees participated in an annual Employee Engagement Survey in October 2006 (conducted by an external third party) to measure employee engagement and identify opportunities for improvement. Our participation rate was 67%. 2006 was the second time we participated in the survey. The first time, in 2005, we had 250 employees and in the second we had over 700 with the majority joining from the recently acquired Clarendon Property Group.

Results and feedback were received from the survey organiser in March 2007 and presentations of these results and commitment to action were facilitated to all employees in April/May 2007. We cannot draw valid comparisons year upon year given that Clarendon Property Group employees did not participate in 2005 and the restructuring that has taken place across the business.

	2005	2006
Employee engagement, e.g.committed, motivated, satisfied employees (100% equals maximum satisfaction level)	57%	50%
Staff employed at time of survey	247	733
Participation rate	65%	67%

In February 2007, an operational improvement program was launched within Investa. The program involved a comprehensive review of all of Investa's businesses, activities and structures. Over 100 employees from across the business participated in focus group discussions to identify areas of improvement. The key objectives of the program are to:

• increase business efficiency;
• improve productivity;
• enable the business to access efficiencies across business units and utilise the strength and scale of the Group;
• build strength and robustness in systems and processes to improve control, reduce bureaucracy and position the Group for growth; and
• access cost savings through greater efficiency.

Strategies to Facilitate Work Life Balance

Employees are afforded flexibility to maintain work/life balance and meet family needs through the provision of remote access to our computer systems, providing greater flexibility if, and when, needed.

Good physical working environment with sound office ergonomics and indoor environmental quality (IEQ) is afforded to employees generally. Safety equipment and clothing is provided by Investa for those employees working in operational roles.

Investa offers six weeks paid parental leave and 46 weeks unpaid parental leave to the primary caregiver (irrespective of gender) on the birth of a child, or in the case of adoption, providing the child is aged less than five years at the time of adoption.

Analysis for our 2007 EOWA Report identified seventeen (17) women were on parental leave. Of these 17:

• 4 are still on parental leave
• 1 returned to work full-time
• 6 returned to work part-time (at their own request)
• 3 returned to casual work (as their own request)
• 3 did not return of their own volition

Requests from employees wishing to return to work from parental leave on a part-time basis are considered on a case by case basis and accommodated where feasible.

Employee Health and Wellbeing

Investa has an Employee Assistance Program facilitated by an external third party. This service is offered to all employees and their families as independent confidential counselling support.

As part of Investa's employment agreement, qualifying employees gain access to a Group funded Life and Total Permanent Disablement Insurance of up to three (3) times the employee's salary. The insurance is managed by Investa as part of the Group superannuation offering.

Investa's EEO policy and grievance handling procedure is located on the company website and is accessible to all employees.

Investa's commitment to EEO principles is reinforced to all new hires via our Group Induction Information Seminars which are facilitated face-to-face in each office location by a representative of our Leadership team and a HR Representative.

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