The research attempts to realize the very influence of monetary and non-monetary incentives on employees’ intentions of turnover. It will be analyzed that how the money is key factor in the retention of employees. What are the causes and reasons purely pertinent to incentives that would keep the employee intact to organization or set them loose?
In present, days socio-economic conditions of the people are in doldrums, and other social issues like inflation really has risen, employees are in cognizance of this fact and money has become a sole reason for their retention in the organizations. On the part of employers, they are also aware that the employees’ turnover is dependent on the benefits and incentives. The research may also highlight reasons other than incentives and thereby opposed to the aforementioned hypothesis. A lot of researches have been conducted on this topic and related. This will be an addition to already done valuable researches. This research as well would have a potential to unearth some new psycho-economical perspectives.Hom and Griffeth (1995) The turnover intention of employees is defined as a relatively permanent withdrawal from the employment through the strength of an employee’s intent. Cotton and Tuttle (1986) defined that the turnover intention is a perceived probability of staying and leaving an organization. There may be many reasons behinds the turnover. Smith in 2009, tried to list down the reasons owing to which an employee leaves an organization. The reasons he termed were, imbalance in life primarily work like, lack of acknowledgement at a workplace, lack of independence, immature skills, misalignment, feeling like a pariah, extreme behavior especially rude, stagnation, inability to live up to other’s expectations, impasse in growth, lack of appreciation, and the instability of organization itself.