The Synergistic Effects of Psychological and Psychosocial Variables on Employee Retention: A Focused Study on Bulawayo Independent Private Colleges.

The current negative Zimbabwean economic situation has greatly affected the capacity of the education sector in general and the Bulawayo independent private college in particular to attract and retain key employees as these have failed to become employers of choice. Private colleges have become an area of interest to the researcher because they are not monitored by a single authority and recent studies on the impact of the massive migration of Zimbabwe teachers have overlooked them. To address this gap, this study addressed the movement of teachers in Bulawayo independent private colleges. The main research objective was to explore the impact of psychological as well psychosocial variables regarding the retention of employees in Bulawayo independent private colleges. Riding on Equity, Resource based advantage and Human capital theories, quantitative research approach was used. Questionnaires were directed to high-ranking and low-ranking employees of private colleges in Bulawayo. A total of 120 respondents were targeted, however 106 respondents comprising of both high-ranking and low-ranking employees in private colleges took part in this research. The data collected was summarised and analysed using descriptive and inferential statistical techniques. The findings revealed that psychosocial variables significantly influence employee retention compared to psychological variables which have an Insignificant influence. The significance of the findings was that psychosocial variables have a positive impact on employee retention in Bulawayo independent private colleges. The research therefore, provided a significant discernment pertaining influence of various psychological and psychosocial variables on attracting and retaining valuable employees. This study found that psychosocial variables significantly influence employee retention in Bulawayo independent private colleges, while psychological variables showed insignificant influence. Key findings indicate that motivation, working environment, organizational culture, work-life balance, and work-related stress significantly predict retention. Self-esteem, emotional intelligence, job security, workload, management support and interpersonal relationships do not significantly predict retention.