For many women working in IT, such policies present twofold benefits. Not only do they ease the burden of striking a work/family balance, but they mitigate the working-hours stigma many have had to face in the past -- the perception that they are not as committed to the success of the company as others are, regardless of whether they get more accomplished than their clock-watching peers.

"Putting in face time was very important at the beginning of my career," says Linda Ead, director of IT at ITA Software, an airfare pricing company. "You didn't want to be seen walking out of the office at 4:30, because then you were The Mom."

Ead's current position, which she took last year, allows more flexibility. "They encourage telecommuting and flexible hours," she says. "People work all different hours, 24 hours a day -- just whatever works for both the employee and the company."

And for companies offering flex-time and telecommuting, the payoffs can be considerable -- both in the near term and down the line.

"[Flexibility] creates a very productive, efficient, stable, and devoted workforce," says Robin Chase, co-founder of car-share company Zipcar and CEO of Meadow Networks, a consultancy. "Prime caregivers who have such jobs waste little time, value their employer, and will stay with those firms." And when the demands of their home lives reduce over time, Chase says, "they will be ripe and ready to take on those high-profile jobs with commitment." And there's something to be said for having a skilled, experienced employee with intimate knowledge of your company's inner workings on hand to step in and step up, especially given the fierce competition for talent in today's IT marketplace.