Just a few years ago, the leadership at Edmunds was looking for a competitive edge in attracting hard-to-come-by tech talent. They tried a flextime policy with high hopes. But the policy was cumbersome to administer and it didn't achieve the objective. After trying many iterations, Edmunds' Chief Human Resources Officer (CHRO) implemented a vacation policy that had no limits. That's right - take as many days off as you wish, but you'd better be able to produce the results.
This may seem like a policy that is lined with a whole host of problems, but upon further reflection, you realize that as long as the infrastructure and accountability are in place, everyone can be satisfied. Employers get the intended result and employees enjoy flexibility in their work lives.
Important features of such a program would include an infrastructure that clearly identifies what success means and how the results will be measured/tracked. And if the company is to maintain or improve worker productivity, managers have to be on top of their game in managing team member activities and holding them accountable.
It's amazing what organizations can do once accountability is in place! Creativity in HR "policies" can drive significant culture change that improves company productivity and thus, positively impacts the bottom line.