Who is important for you :a) One who reports on time everyday yet delays the work. b) One who comes late yet finishes his task well before time .

None, I prefer one come at time and finish task with the required quality

Neither.

While flexible working hours, working from home are the norm in the 21st century an employees expected arrival in office is set based on the need of the organization.  Delayed delivery impacts business.  Neither can be tollerated.