The worst metric.
That is, unless the "turning up on time" is actually causing a serious and recognizable problem. Then it's the problem that's a problem.
>As the initial commenter said: trust goes both ways.
No it doesn't. If you put the onus on the developer and say "not only do you have to deliver high quality code you have to make me trust that you've delivered high quality code by adhering to these arbitrary metrics I've come up which bear no intrinsic relationship to how you do your job" you're admitting incompetence as a manager.
It's a manager's job to know whom to trust and a manager that trusts the useless developer who turns up at 9am sharp over the excellent developer who turns up at 9:05am requires termination.
>Actually, turning up on time may not make your manager trust you more, but turning up late will definitely make them trust you less.
It will definitely make a bad manager trust you less.
A good manager will either recognize that you're delivering or not.