There are a few problems with your logic. First, it only works if you're measured day by day and paid day by day. I don't get paid daily, I think it's most common to be paid bi-weekly.

Second, you still wouldn't be expected to stay late or leave early - you'd simply be paid less.

There's a simple way to set that up. If you performed above the minimum set for you, you wouldn't be fired or warned. If you consistently performed at peak productivity, you'll get a bonus based on how much you produce.

We already do this.

>I'd say its fair to say your results are more important than time but it goes both ways.

Why? What does the company gain by having you in your seat for more hours?