Whether "employee monitoring is 'good for' the employee" depends on the individual monitoring program. Is the program transparent? Is anyone monitoring the monitors? Are there prohibitions against unrelated secondary use of the data collected during monitoring? Is the data retained forever, or is it deleted after X period (if not relevant/needed)? Are summary reports anonymized?

It's easy to justify collecting all data "in case we might need it", but the data collector must understand their custodial responsibilities for the non-public data they collect - otherwise you're just creating more work and possibly liability for something that has questionable value to the company.