Word: Turnover Rate
Definition: "Turnover rate" is a noun that refers to the percentage of workers who leave a company and need to be replaced over a specific time period, compared to the average number of workers in that company. It helps businesses understand how many employees are leaving and how often new employees are being hired.
Usage Instructions: You can use "turnover rate" when discussing employee retention, hiring practices, or company stability. It is often used in business, human resources, and management contexts.
Example: - "The company has a high turnover rate, which means many employees are leaving and new ones are coming in."
Advanced Usage: In a more detailed context, you might say: - "Analyzing the turnover rate helps the management identify issues that may be causing employees to leave, such as poor working conditions or inadequate compensation."
Word Variants: - "Turnover" (the act of leaving a job) - "Turnover ratio" (another term sometimes used interchangeably with turnover rate)
Different Meanings: - "Turnover" can also refer to the total sales or revenue generated by a company during a specific period, which is unrelated to employee turnover.