There is an even simpler argument that should appeal to politicians.
A healthy workforce is a productive workforce.
Stress is known to reduce the effectiveness of the immune system, causing an increase of infections and sickness, which reduce the productivity of a workforce.
A relaxed worker makes less misstakes and costs less money in time and resources.
A well compensated worker can focus on their work without having to worry about how they will manage to make it this month.
Going on long vacations gives a worker time to rest and experience new things, bringing new ideas into the company, new ideas are good, they serve to inspire and perhaps even be a new way to thinking that improves efficiency.
A worker is a tool, a tool require maintenance and servicing to stay efficient, when a knife gets dull, you sharpen it, when a worker gets sick, they go to a doctor.
If you deviate from these points you will end up with a wasteful workforce that will cost more resources for less productivity.
And? CEOs aren't there to make the company great, they're there to get the company a quick buck and then jump out the window, but not before being given a golden parachute for their efforts.
Yeah but none of that accounts for the cruelty and control.
Keeping workers desperate and afraid makes it harder for them to unionize or stand up for themselves. If losing your job means losing access to life saving health insurance, people are less likely to take that risk.