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At the start of the year a company employed 2,000 employees, during the year 400 employees left the company. At the end of year there were 2,200 employed .
What was the labour turnover rate for the year (to the nearest %)?
19%
Dear Sir,
Please explain above question.
Thank you.
Since there were more employees at the end of the year than at the beginning, it means that all 400 who left must have been replaced (and another 200 taken on as well).
The average number of employees is (2000 + 2200) / 2 = 2100.
So the turnover rate is 400 / 2100 = 19.05%
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