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EMPLOYEE COMMITMENT % favourable

100

80

Best employer zone*

60

40

Indifferent zone*

20

0 ‘02 ‘06

*Adapted from the Hewitt Best Employer study.

Employee commitment has increased significantly over four years, as measured by employee surveys.

VOLUNTARY EMPLOYEE

TURNOVER %

10

8

6

4

2

0

‘02

‘03

‘04

‘05

‘06

Voluntary employee turnover is relatively stable in a climate where worldwide demand for skilled resources is rapidly increasing.

28 Santos Annual Report 2006

accelerated career development. The program incorporates on-the- job technical training and specialist development activities.

A further 28 penultimate-year students participated in Santos’ 12-week Vacation Employment Program which helps the Company assess students for possible graduate positions in the following year. Santos has had this program in place for 17 years.

In 2006, Santos spent $3.8 million (an average of $2,300 per person) on training and development programs.

The apprenticeship program was reinvigorated in 2005 and in 2006 had eight participants.

EMPLOYEE COMMITMENT GROWS

Employee commitment is characterised by what employees say about the Company, their intention to stay with Santos and their preparedness to give discretionary effort. In other words, how people feel, think and act.

Over the past four years Santos has tracked employee commitment. The results from an employee survey in 2006, in which 74.5% of all employees participated, showed that:

  • overall employee commitment has increased by over 50% compared to the 2002 survey;

  • every survey item has shown improvement from 2004 to 2006; and

  • significant improvement is evident in the areas that Santos has focused on since the last survey in 2004; namely,

communicating vision and strategy, employee involvement, values and openness to change.

HEALTHY WORK-LIFE BALANCE

In 2006, Santos introduced a number of measures to improve employees’ ability to manage a healthy balance between their personal lives and their work.

The Parental Leave Policy was updated to provide 12 weeks of paid maternity leave to employees with a newborn or adopted child.

The Company also revised its Employee Assistance Plan which provides employees with free confidential professional counselling about personal or work problems.

Santos offers a range of employee benefits in addition to performance rewards such as flexible super- annuation arrangements, salary sacrificing, bank discounts, discounted medical fund membership, professional memberships, study assistance, fitness club facilities or memberships and social clubs.

STRONG PARTICIPATION IN HEALTH PROGRAMS

Santos conducted a major employee health campaign in 2006 to launch its new Health and Wellbeing Standard.

The standard is part of Santos’ EHSMS and is designed to create an environment which encourages employees and contractors to maintain a healthy lifestyle and manage the risk associated with those people who are not fit for work.

More than 1,300 employees attended one of the 21 health and wellbeing

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