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this post was submitted on 17 Jul 2023
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It's a turnover rate over time. If everyone quit and had to be replaced in a day you'd be at 100%. Anything after that is over 100% for the year.
I've seen rates of 150% bandied around for Amazon. That means replacing 12.5% of your total headcount on average monthly.
I'm not great with math so please let me know if I'm understanding this right:
= 100% turnover rate
Then...
= 150% turnover rate
and so on?
It simply has to do with the number of lost/new employees in a year. So if you have 100 employees on your payroll and 100 quit over the course of a year, then you have 100% turnover. If 50, then 50/100 total employees = 50% turnover. It will be lower if less people left. Here's the link where I learned this: https://www.aihr.com/blog/how-to-calculate-employee-turnover-rate/#:~:text=How%20to%20calculate%20annual%20turnover,%3D%200.05%2C%20or%205%25.