How can you have more than 100% turnover?

Question

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

Answer 1

Assuming we’re talking employee turnover… people simply need to stick around for less than a year on average.

If your employees only stick around 3 months on average, you’ll refill every job 4 times each year on average. That’s a 400% annual turnover rate.