What does turnover mean in a business context?

In a business context, ""turnover"" typically refers to the total revenue generated by a company during a specific period, often expressed on an annual basis. It can also denote the rate at which employees leave and are replaced within an organization. To elaborate, what does turnover signify in the realm of business? Additionally, how is it defined in terms of revenue generation and employee retention? In summary, turnover in business encompasses both the financial aspect of revenue generation and the human resources aspect of employee movement within a company. Understanding these dimensions is crucial for evaluating a company's performance and operational efficiency.