In some regards, today's corporate environments are relaxing. Many employees are allowed to dress casually on Fridays and more companies are enabling their staff members to work remotely to accommodate a better work-life balance.

Another trend that's gaining steam is flexible scheduling - giving staff members the freedom to adjust the start and end time of their work days. The Bureau of Labor Statistics reports that between 1985 and 2001, the percent of full-time employees with flexible work schedules more than doubled.

This can be beneficial both in terms of productivity and employee satisfaction. Some individuals are not morning people and may find it's difficult to get going before 9 a.m., yet they are extremely productive after the sun goes down. Others might lose focus as the afternoon wears on, but might benefit from an earlier start in office.

If employers give their employees the freedom to choose the beginning and end of their work days, they must also be prepared to keep closer tabs on time and attendance. Because managers might find it's harder to tell when workers are putting in overtime or skipping out early, they will need a reliable timekeeping system and sound payroll policies.

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