Family Friendly Workplace Act

Family Friendly Workplace Act - Amends the Fair Labor Standards Act of 1938 to provide for: (1) time-and-a-half compensatory time off; and (2) biweekly work programs (allowing more than 40 hours of work in one week and correspondingly less in the other). (Thus provides private sector employees opportunities under such programs similar to those enjoyed by Federal employees).

Requires, with respect to such compensatory time and biweekly work programs, that employee participation be voluntary, and that collective bargaining agreements be honored. Sets forth: (1) procedures for employer discontinuance of, or employee withdrawal from, certain of such programs; and (2) prohibitions against coercion.

Amends the exemption from minimum wage and maximum hour requirements for certain executive, administrative, and professional employees and outside salesmen. Prohibits from consideration in determining whether an employee is exempt: (1) the fact that the employee is subject to deductions in compensation for absences from employment of less than a full workday or less than a full workweek; or (2) the payment of overtime compensation or other additions to the compensation of an employee employed on a salary based on hours worked. Allows consideration, in such a determination, of an actual reduction in compensation, with a specified exception.

Amends the Federal bankruptcy code to grant third priority (allowed unsecured claims for wages, salaries, or commissions) in bankruptcy proceedings to claims relating to compensatory time off.