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
Annual turnover rate is what percentage of the staff leaves over the course of the year. If the staff size is 10, and 10 people leave and are replaced, the turnover rate is 100% (everyone left). If the staff size is 10, and in 6 months everyone has left and been replaced, then in the following 6 motnhs those people have left and been replaced, then the staff size is 10, and 20 people left, so the turnover rate is 200% (you replaced the staff twice in the year).
An annual turnover rate of 150% means that on average, staff stay for 8 months.
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