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Rewards and remuneration

Balfour Beatty is a leader in most of the markets in which it operates. Market leadership not only offers the opportunity of superior financial returns, but also helps attract the best people at every level of our organisation.

We are not complacent and we are constantly seeking new and better ways to recruit and retain the best people and to offer them interesting and rewarding jobs within the Group.

In 2006 we launched a new campaign for the recruitment of graduates and overhauled our general recruitment practices.

Most of our operating companies conduct annual performance and development reviews for all employees and salaries are reviewed annually. We aim to ensure that pay and benefits are competitive through the use of external benchmarking and that an individual's reward package is commensurate with their responsibilities and rewards performance without encouraging excessive risk-taking.

Our defined benefit pension scheme was closed to new starters in January 2003 and a defined contribution scheme is now offered.

Flexible benefits are available in some of our UK operating companies and all employees are offered the opportunity to join the company Sharesave Scheme after one year's employment. In 2007, over 4,350 eligible employees accepted the invitation to participate in the Sharesave Scheme, compared to over 3,700 in 2006 and nearly 3,600 in 2005.

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