Turnover

Turnover refers to a variety of concepts involving a shift, replacement, or change, often within a business or organization. It can describe the rate at which employees leave a company (employee turnover), the amount of business a company generates in a specific period (financial turnover), or the act of passing responsibility or control. It implies a state of flux, the exchange of resources, or the movement of individuals or objects from one state or condition to another. turnover signifies a dynamic process, reflecting either the positive aspects of growth and adaptation or the negative consequences of inefficiency or instability. The specific meaning is always context-dependent, relying heavily on the subject matter to be fully understood.

Turnover meaning with examples

• The company struggled with high employee turnover, with a significant portion of the workforce leaving each year. This constant churn impacted morale, productivity, and the ability to complete projects efficiently. The HR department implemented new retention strategies, including better benefits and professional development, in an attempt to address the problem and stabilize the workforce.
• The small bakery experienced high customer turnover during the lunch rush. People queued for freshly-baked items, purchased them, then departed. Management maximized efficiency by streamlining processes and enhancing staffing levels. This quick turnover of customers was essential to sustaining a successful business, and ensured the availability of seating.
• Financial turnover at the clothing store had improved. The company’s total sales revenue, minus returns, increased by 15% compared to last year, due to effective marketing and product innovation. Higher turnover signifies strong customer demand. The company aimed to boost its profitability and extend its market reach through this increased revenue flow.
• The project manager facilitated a smooth turnover of the project to the new team. A detailed briefing was given to convey completed tasks, outstanding issues, and upcoming deadlines to guarantee a seamless transition. This orderly passing of the project was vital to avoid any disruption to the established schedule, including possible delays.