Churn rate is also known as attrition rate. Attrition is the process where an organization ordinarily loses employees like resignation, termination, removal of any job post, etc. The rate that measures the number of employees or teams leaving a company in a specific period is known as employee churn rate or employee attrition rate. The term churn rate, in general, is used in various contexts including HR (Human Resources), Business, and IT (Information Technology).
In Business, churn rate is the percentage of customers who discontinue purchasing products or services from the company. In short, when a company loses customers, it is called customer attrition and the rates that measure it is known as customer attrition rate. The customer churn rate is especially important in industries where revenues are heavily dependent on subscriptions.