All work must be orginalThe 1st Assignment is500 word essay due Monday 12:00 noo

All work must be orginalThe 1st Assignment is500 word essay due Monday 12:00 noonCompare and contrast the similarities and differences among skill-based pay-for-knowledge and competency-based pay plans.ReferencesHenderson R. I. (2006). Compensation management in a knowledge-based world (10th ed.). Upper Saddle River NJ:Prentice Hall.Your response should be at least 500 words in length. You are required to use at least your textbook as source material for your response. All sources used including the textbook must be referenced; paraphrased and quoted material must have accompanying citations.