Churn: Difference between revisions
From ACT Wiki
Jump to navigationJump to search
imported>Doug Williamson (Create page. Sources: http://www.churn-rate.com/, http://www.investopedia.com/terms/c/churning.asp) |
(Add definition - source - The Treasurer - Issue 1, 2024, p21.) |
||
| (One intermediate revision by one other user not shown) | |||
| Line 1: | Line 1: | ||
1. ''Noun'' | 1. ''Noun''. | ||
The rate at which customers are lost during any given period. | The rate at which customers are lost during any given period. | ||
2. ''Verb'' | 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. | To trade excessively on behalf of a client in order to generate commissions. | ||
| Line 11: | Line 27: | ||
== See also == | == See also == | ||
* [[ARPU]] | * [[ARPU]] | ||
* [[Commission]] | |||
* [[COVID-19]] | |||
* [[Retention]] | |||
* [[Revenue]] | * [[Revenue]] | ||
* [[Turnover]] | |||
[[Category:The_business_context]] | |||
Latest revision as of 23:33, 27 February 2024
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.
