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
Employee turnover rate is how many employees left you vs. how many employees you normally have. So if your company normally has 100 employees, and you lost or fired someone 50 times last year, then you had a (50/100 =) 50% turnover in that year.
150% employee turnover means that if your company has 100 people, you lost or fired 150 people total over the course of the year. This is more common in companies that are really unstable (so people don’t stay in the job long and get frequently replaced), or companies that employ a lot of short-term workers, or companies that aren’t seen as good for long-term careers (a lot of people will work fast food only temporarily while they find a better job).
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