Employee and Workforce Morale

What will it tell leaders when the morale of the workforce is low? Organizational structure, work assignments, workload, supervisor and employee relationship, career advancement opportunities, unfairness and treatment of employees, misplacement of the right talents, underutilization or overutilization of personnel, mismanagement, pay, organizational trust, job satisfaction, working conditions and environment, employee engagement, wrong leaders and managers in the right positions. What are the issues?? There must be multiple reasons that would affect the morale of the workforce!!