Change

<select id="multiselect" multiple="multiple">
    <option>Item1</option>
    <option>Item2</option>
</select>
<script>
$("#multiselect").kendoMultiSelect({
  change: function(e) {
    var value = this.value();
    // Use the value of the widget
  }
});
</script>

<select id="multiselect" multiple="multiple">
    <option>Item1</option>
    <option>Item2</option>
</select>
<script>
function multiselect_change(e) {
  var value = this.value();
  // Use the value of the widget
}
$("#multiselect").kendoMultiSelect();
var multiselect = $("#multiselect").data("kendoMultiSelect");
multiselect.bind("change", multiselect_change);
</script>