10.FacultyPerformance Abstract
10.FacultyPerformance Abstract
10.FacultyPerformance Abstract
ABSTRACT
The objective of campus based higher education is now shifting from mass education to
customized education and in such model involving students in research by faculty members is an
essential part. Such research focused higher education model not only benefits the students but
also provides an opportunity for the institution to create intellectual property in its name. To
encourage faculty members to be involved in research and publications, higher education
institutions (HEIs) are trying to find various strategies. Faculty compensation is one of the
important strategies in higher education institutions as faculty members are the brain of the
system and creators of an intellectual asset to the institution. Making faculty compensation
dynamic is a very attractive and effective way in order to involve faculty members in research
and publications. In this paper, we have studied the changing objectives of autonomous HEIs like
private universities towards developing Intellectual property by shifting their focus towards
research and publications using their financial autonomy. As a part of such initiatives, an
improved model of faculty compensation is proposed based on Annual Performance Based
Component (APBC) and discussed how it adds value to the HEIs by inspiring the faculty
member’s involvement and accountability to create a tangible asset of intangible intellectual
property. The paper also discusses the cases of pessimistic expectations, most-likely
expectations, and optimistic expectations of faculty performance and its financial implications on
the institution by simulating these estimates.
Keywords:HEI, Faculty performance, Dynamic Faculty compensation, Theory of
Accountability, Factors affecting faculty performance.