This is the first line in an article about the fast food industry: “With the fast-food industry facing 150% annual turnover rates, brands are turning to Miso’s AI-powered kitchen robot, Flippy, to help increase profits…” How can you have more than 100% turnover? Thank you.
In: Economics
What you might be thinking about is *attrition*. Attrition cannot go over 100% because it represents positions that *don’t* get filled (e.g. layoffs, some retirements)
But because turnovers *can* be refilled, multiple people could hold the same position throughout that measured time period. It doesn’t help that many HR teams use turnover and attrition interchangeably, rather than differently as intended.
The formula for turnover is the number of people who left, divided by the average number of employees in that time period.
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