What Is Turnover in Business?

ONOKY - Fabrice LEROUGE/Brand X Pictures/Getty Images

When it comes to all things business, turnover represents the rate at which any asset is replaced or revolved during a certain time period. In terms of assets such as inventory, raw materials and cash, the accounting period is normally used as the timetable. In terms of human resources or employees, however, a revolving 12-month period is often used to calculate turnover.