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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.
National Labor Turnover Rates. According to the U.S. Bureau of Labor Statistics, the rate for separations in June 2011 was 3.1 percent. The separation rate includes employees who voluntarily quit a position, layoffs, retirements and discharges. While the rate of employee turnover did not change significantly from May 2011, the rate for June of 2010 was 2 percent.