Just no. Just GOD NO. Want to be a good manager? Get the hell out of my way. You're not there for my benefit (i didn't hire you, and odds are, I probably don't think you should have a job at all, let alone one that pays more than me) so don't pretend you are. Its insulting to both of us. I'm there because you've hired me, given me money, to do some labor that you can't/won't do. If I want you, I will come to you, and it will usually be because some genius decided that I don't have the authority to fix a problem or do something. If you come to me, its because you're telling me to spend my labour on something else.
If you're going to make yourself even vaguely useful, be my human shield to keep the rest of the useless people (read: management/executives/marketers/HR) and distractions away from people actually doing work.
I appreciate this is all context sensitive and my response is filled with hyperbole, but you'll also hopefully understand that i'm particularly frustrated with managers/employers in our society wanting to be my mother/psychiatrist/friend? If I wanted to be your friend or meet with you, do you think people would have to pay me money to be in your presence?
Its not a very Hacker-esque movie, but there's a brilliant line from the English patient:
"I once traveled with a terrific guide, who was taking me to Faya. He didn't speak for nine hours. At the end of it he pointed at the horizon and said - Faya! That was a good day."