International Journal of Economics, Commerce and Management United Kingdom Vol. III, Issue 5, May 2015 Licensed under Creative Common Page 381 http://ijecm.co.uk/ ISSN 2348 0386 PERFORMANCE APPRAISAL AND REMUNERATION MODEL FOR LECTURERS AT A UNIVERSITY EN ROUTE FOR WORLD CLASS - A STUDY AT A FACULTY OF BUSINESS AND MANAGEMENT Dyah Kusumastuti Faculty of Business & Management, Widyatama University, Bandung, Indonesia dyahk05@gmail.com Abstract This paper is exploratory and seeks a model of performance appraisal and remuneration for lecturers. In line with the endeavour towards world class, it selected a study program that is recognized as excellent and had gained a ‘Grade A’ accreditation. With the Indonesian Teacher and Lecturer Act Number 14, 2005, the concept of Globalization and Internationalization of higher education, the Human Resources audit results of the faculty, the Faculty of Business and Management Strategic Plan as its basic guidance and references, a Questionnaire was developed for lecturers’ perception of the factors that enhance lecturers’ performance and on their remuneration expectations. The respondents were permanent lecturers of the Faculty. Results point to a possible model of performance appraisal for world-class lecturers. It needs to bring together and integrate several key dimensions, including the major roles of Human Resources Management vis a vis service delivery, human resources development, policy and practice framework provision, organizational value implementation and monitoring, effectiveness and efficiency as well as aligning all these to the overall strategy of the university. It was also found that remuneration needs to be tied to performance in order to ensure professionalism amongst the lecturers. The Model can be used to calculate an align pay for performance, to improve the lecturers’ competency as well as their own development and to enhance the university’s performance overall. Keywords: World-class university, Performance Appraisal, Remuneration, Competency based assessment, Human Resource Management