No matter how impressive the boss's words are, subordinates are watching where it counts.
Literal
Boss [subject-が] however-much fine things [object-を] say-[even if-ても], subordinates [topic-は], looking places [topic-は] properly looking.
いくら…ても 'no matter how much' is a concessive pattern. 見るところはちゃんと見ている 'they're watching where it counts' — the repeated 見る creates emphasis: 'the parts worth watching, they're definitely watching.' A sharp observation about workplace dynamics.