National Public Radio has a series this week on Work-Life Balance. They cite a survey showing that 45% of companies offer telecommuting, though on an "ad hoc" basis (not further explained).
The central boss in the radio report, Katie Sleep of List Innovative Solutions, is enthusiastic about telecommuting for her employees. She especially likes the 95% retention rate over 16 years, which she (rightly) calls astonishing. But she notes two caveats. First, she doesn't telecommute herself, because she "likes being around people." And second, she has to be willing to fire employees who take advantage of the flexibility and lack of direct supervision that telecommuting offers.
I think telecommuting is an excellent development for much of white collar work. However, I think it also adds to the burdens of bosses, and increases the likelihood that they are the ones who need to regularly appear in the office, because telecommuting increases the difficulty of managing and supervising - even if the best workers are happier as a result.