Q. What about Total Comp and Non-Cash Practices?
A. After total cash compensation has been supplied, the primary measurable missing component of “total compensation” is benefits: medical, dental, 401k match, deferred compensation, life insurance, retirement, vision plans, legal insurance, sick leave, vacation, etc.
In the past, the Hewitt benefit index has been most precise for an industry-specific measure of how the value of these components stack up.
Done by their actuaries, is it generally quite expensive.
It requires the actuaries to specify, review and "value" the company benefits and indirect pay and then compare every element to other companies’ benefits.
However, does give a barometer of how one"s company compares to the market place.
The info combined with cash compensation data then gives a measure of the type of total compensation you want.
So there is an answer there, it is just very expensive to get.
There is no practical way for most analysts to report all the specifics of all the variables that affect employment and pay decisions.
That could include such elements as guaranteed versus contingent pay, the type and timing of incentives, long-term income distributions, vacation schedules, holidays, personal leave, life and health insurance, dependent coverages, educational benefits, perquisites such as parking and special privileges, working hours, job security, retirement and savings programs, work environment, etc.
The list of potential considerations is literally endless, and each person places a unique value on each.
Thus, most professional analysts restrict their factual reports to only those subject elements where they have credible and demonstrable data whose provenance can be easily defended.