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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.
Types of Employee Turnover. At first glance, the phrase employee turnover has a negative connotation -- a stigma associated with an employer's obligation to reduce turnover at all costs. However, there are different types of turnover, and not all of it is negative. Turnover occurs for a variety of reasons, ranging from termination for poor performance to the departure of highly skilled employees who resign after they help startup businesses achieve sustainable operating levels.