The relationship between a boss and an employee is so far removed from a classical single-round prisoner's dilemma that I don't think you'll draw reliably accurate conclusions from it. As it sounds like you know, constraints like iteration change the game significantly, as would making it a game with many actors and reputational effects.
All models are wrong, some models are useful, and in this case it seems more wrong than useful.
All models are wrong, some models are useful, and in this case it seems more wrong than useful.
Edit: thought you were OP, whoops