Abstract: Background/Objectives: The stability of caregiver manpower plays a crucial role in the operation of long-term care institutions. This study adopts Social Exchange Theory as the theoretical foundation to construct the psychological mechanism through which organizational commitment and work value influence retention intention via job involvement. Against the backdrop of Taiwan’s intensifying aging society and the increasing service demands of the veterans’ support system, Veterans Homes have gradually become indispensable within the long-term care system. Therefore, the primary objective of this study is to explore the formation mechanism of retention intention among caregivers in Veterans Homes. Methods: Data analysis was conducted using structural equation modeling, with 447 valid samples collected from caregivers across 16 Veterans Homes in Taiwan. Results: The results indicate that, in the process of forming retention intention, job involvement serves as a mediator between organizational commitment and work value on retention intention and demonstrates significant mediating effects. Conclusions: These findings suggest that when caregivers perceive value realization and organizational identification in their work, they are more likely to exhibit active engagement, thereby strengthening their tendency to remain employed. Furthermore, the study reveals that the effect of organizational commitment on job involvement is stronger than that of work value, indicating that exchange motives triggered by emotional bonds carry greater implications for retention. In conclusion, organizational support and personal value perceptions stimulate emotional engagement, which further influences caregivers’ decisions to remain in long-term service and ultimately shape their retention behavior.