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
The key word there is “annual.” If you have ten employees at the start of the year and they have all been replaced by the end of the year that’s a 100% annual turnover rate. Now let’s say you have ten employees at the start of the year, all ten have been replaced by July, and then by the end of the year five of those replacements have also been replaced. In one year you will have hired 15 people for 10 positions. That’s a 150% annual turnover rate.
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