There are places where you are paid for the fact that you come into the office and that people who see you are content with you. This creates culture of staying late.
There are places where you bill by the hour. This causes slacking off because you have financial incentives to work longer.
There are almost no places where knowledge workers are paid for results because you can't objectivly asses results. They must be assesed by a human. Manager most likely is too clueless to asses them. He also might be evil and just reward loyalty to him instead of the value of the work done.
I think that the most efficient environment is to pay for each hour but closely monitor what the people are doing and communication between them. You'll have to pay much more then the competition though because people factor in slacking off into their expected pay. So not many companies bother. They prefer to accept some degrees of slacking off especially because that enforces the illusion of company as one happy family.
There are places where you bill by the hour. This causes slacking off because you have financial incentives to work longer.
There are almost no places where knowledge workers are paid for results because you can't objectivly asses results. They must be assesed by a human. Manager most likely is too clueless to asses them. He also might be evil and just reward loyalty to him instead of the value of the work done.
I think that the most efficient environment is to pay for each hour but closely monitor what the people are doing and communication between them. You'll have to pay much more then the competition though because people factor in slacking off into their expected pay. So not many companies bother. They prefer to accept some degrees of slacking off especially because that enforces the illusion of company as one happy family.