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Employee turnover is the process of replacing one worker with another for any reason. A turnover rate is the percentage of employees that a company must replace within a given time period. This rate is a concern to most companies because employee turnover can be a costly expense, especially for lower-paying jobs, which typically have the highest turnover rates.
In Insurance, this is the insurance policies amount still on the books after subtracting cancellations and lapsed policies from new policies written. 2. In General business, this is the company's employee turnover number. Company's growth as a measurement. Calculated as: during a specific time period, Employee count added plus employee count still employed minus employee count that quit minus employee count fired.