Pay-for-Knowledge Systems : Guidelines for Practice.

In the era of the knowledge-based economomy and continuous learning. Pay-for-knowledge (PFK) conpensation plans have received an over increasing amount of attention from both practitioners and researchers. However, the implementation of a PFK compensation plan does not auarantee that plan's success within any given organization. This article defines the characteristics of PFK systems, identifies the critical success factors necessary to emplement these plans, and discusses the available evidence on the advantages and disadvantages of these systems for companies and employees.