Student or Learner
could you please clarify this text:
What are we aiming for? Increasing our market share, reducing turnover, increasing productivity or ensuring that all expenses come in under budget?
1) What does turnover mean here? It is probably not the amount of business transacted, because this wouldn´t make sense, because companies always strive for higher turnover.
2) Does "under budget" mean that the expenses correspond to the budget or that they are lower than the budget?
Thank you very much.
Turnover means employees who leave and have to be replaced. When an employee leaves, you have to look for a suitable replacement and it takes time to train him or her, so there is lower productivity and it costs money. If you can lower or reduce turnover, you will have higher productivity and lower costs. So reduced turnover (fewer employees who leave) is a good thing.
If you came in "on budget," what you spent was what was planned. Coming in "under budget" means you spent less than the plan -- also a good thing.