Turnover
Encyclopedia of Business Terms and Methods, ISBN 978-1-929500-10-9. Copyright © 2011 by Marty J.Schmidt. Revised 4 March 2012.
The Meaning of Turnover
Turnover has several different meanings in business.
- Turnover is the number of times an asset is replaced during a year, Turnover in this sense is measured with activity and efficiency financial metrics such as inventory turns, or accounts receivable Turnover."
- Turnover, or "Sales Turnover" is another term for sales revenues." See also revenues and income. A company may be said, for example, to have had a turnover (sales revenues) of £10M last year.
- Turnover may refer to churn or replacement rate in a company's employee population, or in the company's customer or subscriber base. Turnover in this sense complements the concepts of employee retention or customer retention. High employee turnover rates and high customer turnover rates are normally viewed as costly problems.
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