It encourages carpooling. Increases job satisfaction because if you have a bad job, you don't care. It eliminates vacations because people would rather come to work. It makes fellow employees look better. It makes the cafeteria food taste better.
Bosses are more likely to hand out raises when they are wasted.
Salary negotiations are a lot more profitable. Suddenly, farting during a meeting isn't so embarrassing. No one will remember your strip act at the Christmas Party.