How can we reward employees for increasing their knowledge and skills?

One answer might be to pay them for the skills, ability, and knowledge they bring to the job (Noe, Hollenbeck, Gerhart, & Wright, 2023).That can motivate employees to learn and apply new knowledge and skills, ultimately building the organization's capabilities.That approach, though, brings its own problems.

Class: Based on the textbook and on other information you find in the library, how do organizations implement pay for skills, knowledge, and competency? What are the pros and cons of that approach?How could you use such an approach to handle the issue Tom brought up, about veterans with additional leadership skills?

Please include in-text citations and references. Thanks!