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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 2004 the average national employee turnover rate, across industries, was 18 percent, according to the Society for Human Resources Management. The employee turnover rate in the restaurant industry typically ranges between 75 to 80 percent annually, which means that a typical restaurant...