Co-determination was born as a compromise in Germany (between the capitalist occupiers and the communist occupiers trying to find common ground for decades) that has done well, essentially its that the Employee Union has at least one board seat, by law

employee representation on the board in combination with US stock ownership concepts would be very novel and very attractive

I think both classes of stakeholders typically have some common ground and can find a way to make austerity and growth measures economically practical with more sustainment of employee consideration