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
Over 100% turnover essentially means that you have repeat quitters. Ie, I quit my job, you replace me, my replacement quits, and so on.
That could be that everyone in your company quits and then half of the replacements quit. It could be that 10% of your company quits every month, etc.
It’s total quits divided by average headcount.
It can also reflect me not hiring back as many people (possibly because i cant or just didnt want to)
If i start the year with 200, they literally all quit, but i only hire back 100……..I’ve had 200 quits, and my average headcount is 150 (to keep it simple). So that’s over 100%.
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