In looking more closely at the question: When is non-cash a better idea worth considering? Here is another perspective.

“When the foundation for your core compensation program is established and in place and you need to make an adjustment to performance,” said one HR manager.

Non-cash programs are not generally viewed as compensation and can be launched without the level of approvals, planning and negotiation that cash plans require.

In that way non-cash gives the planner a significant speed to market advantage.