The owners hold the management responsible. If targets are not met then they dig deeper, see staff turnover, find causes, and fix them. It’s capitalism at work. If the owners are not savvy enough then the company should fail or be sold and the capital should be allocated elsewhere.
If workers have a say it distorts these forces. And by say you mean the ability to force the hand of management. Because they already can have a say and modern companies measure everything and listen to feedback.