If you request that the IRS investigate your situation, they will do so. We have no way of knowing in advance if your report will be sufficient for them to audit the status of other employees; it's possible. If the determination is made that an employee was misclassified, the employer will have to pay back taxes, interest and penalties; under certain circumstances it could be a criminal offense. It's always possible for the IRS to detect tax fraud without a report; reports make it more likely that they'll find and investigate a problem.
Is whatever you do worth it to you? I can't answer that for you.

