Healthcare manufacturer I worked for in college had a similar program. Well, being employee owned, at any rate. There was no way to "force" changes beyond the usual. But with a large vested stake in company stock, people could leave whenever and end up with a serious buyout of their shares. After working there for five years you could get bored and quit and be bought out to the tune of $70k. Even being fired would get you paid.
There's also a grocery chain on the West Coast called WinCo. Employee owned. There are some old ladies running checkstands who have built up 7 figures in company stock.