APPROACHES TO TALENT RETENTION FOR SUSTAINABLE INSTITUTIONAL DEVELOPMENT IN SOUTHWEST NIGERIA'S PUBLIC AND PRIVATE UNIVERSITIES

Abstract

This study examines approaches to talent retention for sustainable institutional development within public and private universities in Southwest Nigeria, with a focus on knowledge management strategies. A survey research design aligned with a quantitative, deductive approach. The study’s population comprised 8,550 academic staff members from selected federal, state, and private universities in the region. Using Taro Yamane’s sampling formula, 382 participants were selected, and data was collected via questionnaires. The analysis involved descriptive statistics to present respondent demographics and Structural Equation Modeling (SEM) to test the formulated hypotheses. Results indicated that knowledge management strategies positively and significantly impact institutional stability, affirming that effective talent retention practices substantially contribute to sustainable development in these universities. The study concludes that robust retention strategies are essential for strengthening academic institutions in Southwest Nigeria, providing valuable insights for policy and administrative improvements. To enhance institutional stability further, it is recommended that universities reinforce their knowledge management strategies, fostering a strong organizational prestige through excellence in academic programs and research. Cultivating high levels of organizational commitment among faculty and staff can be achieved by aligning institutional goals with employee values and providing recognition and rewards.