Superiors and Subordinates

You have a boss above.
You also have subordinates below.

Consider this work-related morale-affecting dilemma:
Management is deciding things they think is best, but the subordinates tire and feel demoralised at these decisions, however they're in no position to disobey. It takes away efficient work hours from everyone and no one is happy.

You're in the middle and you know both sides of the coin. How do you put across to your boss without risking your job/future?

What would you do?