I asked "How is that?" because relying on worker-reported hours is no less consistent with the profit motive than are current standards for salaried employees.
Employers can still calculate "profit per worker hour". And it's arguably more accurate when based on reported work time, rather than just days worked.
What would you do with it in an office, though? It's well known that you can't just throw man-hours at cognitive tasks and expect linear or even monotonic returns.
This conflicts with the much, much stronger profit motive.