Why would anything besides performance and value factor into this decision? "Mary just gets more done for the money than Bob does... but I haven't seen her in awhile... Gone."
But for example, 5 years ago, I worked in a team, when I was only couple of days in the office. Others every day. I saw my team manager the days I was in the office... and also at weekends, because we were friends... so... it all depends.
Because people making decisions are often influenced by their own biases and social preferences, unfortunately.