Churn
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1. Noun.
The rate at which customers are lost during any given period.
2.
The rate at which any key organisational factor is replaced, for example staff.
When staff retention is high, staff churn is low, and vice versa.
High staff churn is generally costly for the organisation.
Staff churn is sometimes known as staff turnover.
"For [Tariq] Kazi, making good recruitment decisions is key because, with natural churn already rising since the COVID-19 pandemic, hiring people who don’t fit with roles and the team overall can be a costly error."
(Lawrie Holmes - The Treasurer - Issue 1, 2024, p21.)
3. Verb.
To trade excessively on behalf of a client in order to generate commissions.
