A scheme that allows you to set your own working hours (within predefined limits), as long as you work the requisite number of hours, e.g. you can work from 11 to 7 instead of 9 to 5, or miss half a day on Monday but make it up by working extra hours for the remaining four days of the week.
Hence, a device which allows workers the freedom to waste vast chunks of their lives at times convenient to them.