Ann: Appendix 4D and Half Year Financial Report, page-34

Hey Wolf, for the 2016FY they used three tiers in their modelling, Tier 1 = 2.3% (average ~ 85k employees), Tier 2 = 4.3% (average ~ 20k employees) & Tier 3 = 6.3% (average ~ 8k employees). They also mention that a company with say 250k staff can go from US$1.5m with only 2% of hires to US$5.3m with 7% hires, this is with a company that has 30% staff turnover.