INCENTIVE STRATEGIES AND INSTITUTIONAL STABILITY IN PUBLIC AND PRIVATE UNIVERSITIES IN SOUTHWEST, NIGERIA

Abstract

This study examined the effect of incentivesn strategies on institutional stability in public and private universities in Southwest, Nigeria. Specifically, the study investigated the impact of incentive strategies on institutional stability in public and private universities in Southwest, Nigeria. the study adopted a descriptive survey research design and covered a total population for the study is 8,550. The population data for each institution was obtained from the Nigeria University Digest, 2019. To ensure manageable data, the study used the Taro Yamane (1967) formula cited in Umar and Wachiko (2021), to determine the appropriate sample size for the study which was reported to be 382 respondents. The collected data through the administered questionnaire was estimated using both descriptive and inferential statistics. Descriptive statistics involved the use of frequency tables to present demographic data of respondents while inferential statistics involved the use of Structural Equation Modeling (SEM) Technique. Analysis results showed that incentives strategies have a positive significant effect on institutional stability in public and private universities in southwest Nigeria. The study concluded that talent retention strategies statistically significantly impact institutional stability in public and private universities in Southwest, Nigeria. Therefore, it was recommended that universities should design and implement comprehensive incentive programs that align with the needs and expectations of their faculty and staff.