Excerpt: First, more and more employers are discovering that loosening the traditionally rigid work schedule pays off. Sleep says her retention rate over 16 years is an astonishing 95 percent. And study after study shows productivity also shoots up. More than half of companies now say they offer flextime, and one-third allow telecommuting at least part-time. On the other hand, research also shows that employees don't find their workplaces nearly as flexible as managers report.