Finding the importance of Rewards and Recognition among employees of 6 MNC’s located in Kolkata and how it affects their Turnover Intentions

In today’s globalizing era, amidst the competitive job market where employees of an organization are free to leave the job whenever they feel the need to, it is imperative for the organizations to employ new techniques to retain the employees in their companies. Among these measures to retain the employees; a healthy rewards and recognition system is one of the utterly important ones, because it signifies valuing the employees, which shows the company’s goodwill towards them. This study conducted among employees of 6 selected MNCs tried to identify the relation of rewarding systems with employee turnover intentions employing both necessary qualitative and quantitative methods. The results indicated that an employee friendly rewarding scheme, specifically the non-financial kind has direct relations with employee’s intentions to turnover. Better the rewards, lesser the chance of the employees leaving their job.