Lexington, KY —
“The culture here feels different. Everyone collaborates in a way I haven’t seen in other construction companies.”
A young man shared that with me recently during a job interview. He had been a co- op with us while finishing his degree and was preparing to graduate. We were midway through the usual interview questions when he paused and offered that reflection. It stuck with me.
It’s a reminder of what sets employee-owned companies apart. That sense of collaboration, shared purpose, and pride in the work. It doesn’t happen by accident; it’s rooted in ownership.
I joined Messer Construction Co. in Lexington in 1987 after starting my career in the coal industry with my family. Just a few years later, Messer transitioned to an Employee Stock Ownership Plan (ESOP), selling the company to the very people who helped build it: the employees.
Since then, I’ve watched employee ownership shape our company’s culture and future.
The employee ownership structure gives employees shares of company stock built over their career, so they benefit from the value they helped create. Over time, that can lead to real financial and retirement security.
Nationally, employees who’ve been with their ESOP company for 10 years or more have built an average of $315,000 in wealth through their plan. That kind of long- term stability helps retain talent, and it shows. The median employee tenure at an ESOP company is about 50% higher than at traditional businesses.
But employee ownership isn’t just about retirement savings; it’s about empowering employees.
When people feel invested in the company’s success, they bring their best ideas forward. They support each other. They stick around. Everyone is committed to growing and coaching one another, and that spills over into the community.
The stability of employee-owned companies strengthens communities, as long-term employee-owners grow more connected to where they live and more driven to give back. At a time when employee engagement is declining nationwide, employee ownership fosters a culture of shared responsibility and long-term commitment. It encourages people to grow together, support one another, and build lasting ties – not just within the company, but also in the neighborhoods they call home. In Lexington, our employee-owners go above and beyond to support local nonprofits like Justin’s Place, March of Dimes, Down Syndrome Association of Central Kentucky and many more.
Kentucky has embraced employee ownership, with 46 ESOP companies and over 100,000 participants holding more than $100 billion in assets, according to the Department of Labor.
Still, too many business owners don’t know employee ownership is an option or how to make it happen. That’s why we need policies that make it easier.
One example is the recently introduced Promotion and Expansion of Private Employee Ownership Act, a bill designed to help more companies transition to ESOPs. Simple steps- such as incentivizing owners to sell to employees and supporting the technical assistance needed to do so-could go a long way toward building retirement wealth for working families nationwide.
I encourage Rep. Andy Barr and the rest of Kentucky’s congressional delegation to join the growing list of bipartisan co-sponsors for this bill. By supporting this legislation, Kentucky’s leaders can strengthen our state’s workforce and ensure more Kentuckians can build lasting financial security through ownership.
Messer is celebrating its 35th anniversary of being 100% employee-owned this year. I’ve been with the company that entire time, including opening our Lexington office in 1990. Seeing my colleagues retire with dignity after decades of hard work has been incredibly fulfilling. But that shouldn’t be the exception, it should be the norm.
Let’s give more employees the opportunity to be owners and allow hardworking Americans to retire confidently.
Published in the Lexington Herald-Leader
CONTACT:
Nick Blanco | 301-674-0751 | nblanco@vennstrategies.com