I believe that the last group that tried to bring democracy to companies were... uh... after the means of production.

It sounds great in theory, but how do you deal with new hires? If you don't give them a vote, then it's slavery. If you do give them a vote, then how do you decide who to hire? If it's up to HR, how frequently do you vote for HR? Do new hires get to vote for HR?

I agree that this would cause a reckoning in who has oversight over hiring, as it dramatically shifts the balance of power in a different direction than the one companies are currently organized around.

I think for large enough businesses this would incentivize them give the team the person is hiring into much more oversight into the process. I don't think HR is useless, far from it, but incentivizing them to point their efforts to benefit the teams they are hiring for is a plus in my book.

As for the question of new hires getting to vote I think they should be able to vote (past standard probationary period of no more than say 1 month, idk). The company hired them, they should trust their employees with the responsibility of voting. If one person is able to upend a company then they should take some time to reflect on their processes.