Based on the characteristics of modern enterprises and the practice of integrating corporate governance with workers, summarize the connotation of workers’ participation in management. Propose and expound on the concept of labor—capital harmony and the theory of labor—capital conjugation, and conduct an examination of the system of employee participation in management in our country. Employee participation in management is a fundamental concept of the modern enterprise system. It is also a legal system that is gradually becoming more prominent and strengthened in corporate governance. The theory of labor—capital conjugation serves as an important theoretical foundation for employee participation in management.