If an employee comes to work late, takes lots of breaks, but still manages to finish all his work and overachieves, what do you do?

Give the employee an opportunity to explain the issues and whether he/she even sees being late as an issue. Make sure you are on the same page when it comes to definition and what outcome to achieve. 

Also refer to your employee manual and policies and ask whether they are clear enough for the employee + emphasize the consequences of further violation if being tardy is against policy. 

As the workplace changes and shifts, there will be a need to revise the attendance policies as a matter of being realistic. When the work can be done from home for example or remotely, companies need to appreciate that flexibility as long as there are parametres to manage it. 

If the delay does not affect at all on his work this is something I'm personally accept it, and it is important to me that he have a high job satisfaction and high Engagement functional.

Thanks 

I support my colleague Nadia's answer 

Very interesting scenario. Firstly, see if this is negatively impacting the employee in anyway. Is it going against the organization's norm? Will it affect the management's perception of him/her and impede his/her career in the company? Secondly, see if this negatively impacts the team or the organization in anyway.

If the answer is no to both, then continue to give the employee the flexibility he/she needs as along as they are overachieving.

If the answer is yes to either one of the questions above or both of them, then try to understand the reason; is it personal discipline, health, family commitments, etc. Does the employee feel he/she can do better if they correct this issue? Monitor and coach to ensure things don't get out of hand and that the employee recognizes the importance of personal discipline and perception management. Make personal discipline as one of the performance goals if that is the issue.

Attendance is part of the work too.

Imagine every person is working on his own timing...

This can be acceptable and appreciated if the employee works in an unorganized sector., where they need only results. But in organized companies, what ever the performance may be the employee have to abide the policies of the organization. 

Thanks / Praveen

That means that the planned objectives set for him do not right fit his capabilities, which can cause lack of motivation and consequentially results in coming late, a lot of breaks and sometimes absence.

This employee needs a new challenge which can be illustrated in a new assignment, additional responsibility and / or a development plan for his next move in his career path. Most important is working with him in the Leading by example leadership style and how to be a role model.

Still query and warn the emoloyee. Timeliness is very key to every operations and must be adhered to at all times irrespective the the employee's work output

 discipline is very important when it comes to work. Having someone performing in the team is very good , i would not like to loose him, but at the same time i would like him to be in discpline. would sit with him and coulcil him explaining the consequences of his appraisal is depending on different aspects of his discpline including his performance. people good at work generally understand the situation. 

A performing person is defenetly an asset to the organisation. so would not leave him for any reason. will make sure that i change him and take the work required from him.

Company pays him for a specific period of time on daily basis. so would like him to extend and work till his eight working hours are complete.in the mean while will make sure that he performs and exceed's his performance.

I will give him an opportunities to recover himself because he must follows officials rules and regulations, othewise another employee will take the opportunities whats destry organization rules and regulations