Turnover, commonly known as revenue, is the amount of money taken in by a company in a particular time period from its standard business activities. Monies taken in from other, non-core activities (e.g. land rental) is often recorded as non-operating revenue. In non-profit organisations and charities, turnover is often called gross receipts.
Turnover differs from profit, which is turnover minus expenditure.
With regard to staffing, turnover is also the rate at which businesses gain and lose employees – this figure is important to businesses who may be trying to improve employee engagement levels. Industries may also track turnover levels so businesses can benchmark themselves against competitors. When employees leave and aren’t replaced (i.e. a net loss to the number of staff), it’s known as attrition.
High employee turnover is generally a negative thing, although in some industries a certain level is expected e.g. casual employment. Talent retention is a strategy designed to help companies reduce turnover in an organisation.