What kind of routine does your company use (ie: shorter vs fewer days)? Are employees happier? Is employee churn lower? Is productivity noticeably different?
The more senior person you report to the better. The reason for this qualification being the more senior someone is, the more they feel in control and not get criticized by others for the way others see how they run things (big corp).
So, if you're a manager that encourages shorter, or more flexible, working times, your staff will appreciate it. As long as your team deliver.
If OK with going against the grain, make sure expectations, availabilities, and deliverables, are guaranteed. No one is going to criticize you for not delivering a deliverable, or being available when you agree you are.
It's that simple.
Getting clear ground rules in place is essential whether as a manager of your own time or of someone else's time. Once that's done, just make sure your and everyone else's contribution is transparent and fair.
It really is that simple.
Treehouse has a 4-day work week, no managers,[15] and practices open allocation.
http://en.wikipedia.org/wiki/Treehouse_%28company%29#Culture