The point isn’t that they would read it. The purpose is if things come back to try to bite him, he can point to the manual and say “I provided the employee with these clear and concise instructions with the expectation that they would read them and abide by them”. If the employee couldn’t be bothered to read what is expected of him, it just helps justify the need to remove him from the position.
I can understand potential hesitation about addition investment due to the law of diminishing returns, but assuming you haven’t already hit that ceiling, I don’t understand putting effort into a completely different route when your current one is so successful.