Annual Turnover for FTEs

The number of FTEs (Full Time Equivalents) leaving the business, excluding those from M&A, over the course of the reporting year [calendar or financial]. FTE refers to Full Time Equivalent (at the end of the reporting year), not absolute headcount to enable comparisons taking into account part-time labour. In some contexts, turnover is defined as when an employee departs and their role is replaced, whereas attrition is defined as when an employee departs (voluntary and involuntary), and their role is not replaced. However, there is no need to make this distinction when reporting data. Turnover is defined as the movement of people, given that open roles do not employ people, and there can be ambiguity surrounding role definitions that may be difficult to standardise. However, one nuance for turnover is that this is done on an FTE basis, i.e., Full Time Equivalent employees. For example, if an individual left who was employed half-time, they would count as half an FTE.