Meaning of the word "staff turnover" in English

What does "staff turnover" mean in English? Explore the meaning, pronunciation, and specific usage of this word with Lingoland.

staff turnover

US /stæf ˈtɜːrnˌoʊvər/
UK /stɑːf ˈtɜːnˌəʊvər/

Noun

the rate at which employees leave a company and are replaced by new employees

Example:
High staff turnover can be costly for businesses due to recruitment and training expenses.
The company implemented new policies to reduce staff turnover.