Jenn, great questions!
Policies related to hours of operation, or other expectations of the people which are typically captured in an employee handbook, aren't a great fit for the organization's governance because the organization doesn't own/control the people, it only owns/controls the roles.
Of course, you need to capture certain expectations of the relationship between the people and the organization (working hours, compensation, travel policies, etc.), so those are best documented in a "relationship contract," of some sort.
There's a lot to say about that, so if you're interested, watch this short video (25 mins) of Brian walking through some new thinking around how to handle people stuff like this (especially starting around 9:08 when he talks about "Relationship Contracts").
Here is a link to the file.
Additionally, I just published something called Understanding Policies, which might be interesting to you.
Hope that helps!!