We have something of a problem here on TWP with high numbers of questions getting closed. Sure many of them are bad and closure is the only way but there are many that could be salvaged - they just need a decent edit.
Unfortunately many of our users are very busy people (this is the workplace after all and employers have this nasty habit of wanting you to do what they are paying you for) and don't have much time to spend doing the sort of rewrite-level edits that some of these questions need. And frankly the site offers no real incentive for them to do so, sure newbies can earn small amounts of rep by having successful edits but it's really minimal and goes away relatively early in the rep progression.
So what I'm proposing is that there be a bounty system for edits to on-hold questions, I would envisage it working similarly to the existing answer-bounty system. A high-rep user places a bounty on the on-hold question inviting edits (with a short description of the sort of thing they are looking perhaps?) and if a good enough edit comes along then they can award that bounty to the editor.
Users would have an incentive to actively work to improve and salvage on-hold questions
Askers would hopefully see their questions answered, (and new users who these often are would feel more welcomed)
Rep-rich but time-poor members would have a way to still help and give back to the site
- The system could be abused, either by encouraging more closes in order to entice bounties (possible but the multiple close-vote system should largely prevent this) or by people offering bounties that they never award.