This question is about employee turnover statistics.

What is employee turnover?

By Zippia Team - Feb. 14, 2022

Employee turnover is defined as the number of employees that leave a company for any reason over a specified amount of time. The turnover metaphor is used to describe the exiting of one employee to be replaced by another.

Employee turnover is of importance to companies because it is extremely expensive to replace trained staff. From the hiring process to onboarding, it can cost an organization upwards of $40,000 to replace a staff member who makes an average salary.

Alternatively, a company's retention rate describes how many employees stay with them over a given period of time. A high rate of retention is positive, but a high rate of turnover is negative for a company.

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