What would be the impact of forced distribution of profits to employees for companies meeting a certain threshold?

This is more a hypothetical policy question. A very common sentiment I see on Reddit and in left leaning circles is the notion that the rich should be taxed more, based largely in part on the insane concentration of wealth. While agreeing that too much money in too few hands creates problems, I also don't always have faith in the government to distribute it fairly.

If company values are based on assumed future profitability, what if reform was put in place that, instead of the government taking that profit in the form of taxes, forced the company to distribute those profits to its employees? To be clear, I'm not saying all of the profit, as owners/investors deserve to be rewarded for their risk. But a percentage (actual number, I'm not sure) should go to the employees who also made it happen.

My contention is that it would alleviate some of the problems that arise with such highly concentrated wealth without engaging in direct class warfare while simultaneously rewarding the people responsible for generating a profit.

What am I missing?