This is an important point. I would personally allow it, because I believe the fundamental premise to be true. In my experience, too much time in the "standard

This is an important point. I would personally allow it, because I believe the fundamental premise to be true. In my experience, too much time in the "standard work day" is wasted on looking like you're working, at all levels of the hierarchy of most businesses. OTOH, I would demand some sort of measurable feedback and/or self evaluation from employees to determine which schedule works best for them. Maybe that's just too much overhead for a larger team, though. Perhaps at a certain point in size, the productivity gains VS overhead of "managing" more flexible schedules, become minimal.