ECONOMICS

Detailed explanation-1: -Typically, the higher the sales turnover number, the better the turnover rate is. For example, if a sales turnover rate is 3.35, that means a business has sold its average inventory more than three times during one sales period.

Detailed explanation-2: -What is a high turnover rate? A high turnover rate means that many of your employees – more than what’s expected in your line of business – have quit the organization. What’s considered a high turnover rate depends on the industry you’re in. Different industries and countries have different expected turnover rates.

Detailed explanation-3: -You need to make sure they don’t leave. Companies worry about employee attrition in every department, but it’s especially costly in one function: sales. Estimates of annual turnover among U.S. salespeople run as high as 27%-twice the rate in the overall labor force.

Detailed explanation-4: -The 3 Biggest Reasons for Turnover Here’s what they found: Insufficient compensation – This was the reason why 89% of salespeople left. A lack of connection with leadership / Incompetence of leadership – 60 – 80% Concerns about their company’s ability to meet market needs – 75%

Detailed explanation-5: -Sales turnover – What is sales turnover? Sales turnover is the company’s total amount of products or services sold over a given period of time-typically an accounting year.