turnover
/ˈtɜːrnˌoʊvər/The total sales or revenue generated by a business over a specific period, typically a year.
The company reported a 15% increase in turnover this quarter.
The company reported a 15% increase in revenue this quarter.
Retail turnover is a key metric for assessing store performance.
Retail sales revenue is a key metric for assessing store performance.
Turnover is often used interchangeably with 'revenue' in business contexts, though technically revenue refers to all income, while turnover may exclude certain adjustments.
The rate at which inventory is sold and replaced over a period.
High inventory turnover indicates strong sales and efficient stock management.
High inventory turnover indicates strong sales and efficient stock management.
Calculated as cost of goods sold divided by average inventory.
The number of times a position or job is filled within a company over a period.
High turnover in the department suggests employee dissatisfaction.
High employee turnover in the department suggests dissatisfaction.
Also called 'employee turnover' or 'staff turnover'.
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💡Pro Tip
Business vs. HR Usage
Be mindful of context—'turnover' in finance refers to sales, while in HR it refers to employee retention.
⚡Gold Rule
Financial Context
In accounting, turnover is often calculated before deductions like returns or discounts.
📖Word Origin
From Middle English 'turnoveren' (to turn over), referring to the rotation of goods or positions.
📝Usage Notes
In British English, 'turnover' is often used synonymously with 'revenue', while in American English, 'revenue' is more common. In HR contexts, it refers to employee retention rates.