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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.
Noun. 1. turnover-the ratio of the number of workers that had to be replaced in a given time period to the average number of workers. employee turnover, turnover rate. ratio-the relative magnitudes of two quantities (usually expressed as a quotient).. 1. The act or fact of turning over: preventing the turnover of vehicles in accidents. 2. An abrupt change or transfer, as of power or ownership. 3.