In July, The ESOP Association’s summer interns got to experience a day in the life of an ESOP with a trip to Mid South Building Supply in Springfield, Virginia. The trip made a real impression on Anna and Zoe, and they learned so much during their time with Mid South that we asked them to share their thoughts with our membership. Thanks to Steve Earle, Mid South Vice President and TEA’s Vice Chair, and all the wonderful employee owners at Mid South Building Supply for making it such a great day!
We’ll let Anna and Zoe take it from here:
Anna Balcer
Anna is heading into her second year at the University of Maryland, where she is studying Accounting.
Visiting Mid South Building Supply was an amazing experience. As someone who knew only the basics of what an ESOP was and how it could be beneficial, listening to Mid South’s story and experiences from the employees really opened my perspective.
ESOPs aren’t just a fancy title; ESOPs work to help employees who put in time and effort into their company. As a 19-year-old, I haven’t thought much about setting myself up for retirement. But visiting Mid-South Building Supply started to make me evaluate how I wanted to set myself up for success in the future. Working for an ESOP company is a great option because the retirement plan is built into the structure of the company. Steve Earle also brought up a great point that working for an ESOP company allows you to set up multiple strings of income for retirement. Along with the ESOP, you can have a 401k and any other investments which all combined can set you up for massive success.
Another great point made by Mid-South was that ESOPs are a tool that bring retirement savings to those who originally may not have expected to be able to retire with many savings at all. We heard about workers who had never dreamed about having a retirement account being able to retire with several hundred thousand dollars thanks to the ESOP at Mid South. An aspect of Mid South that also caught my attention was the environment. It was super friendly and passionate, and I can see why people have decided to work at Mid South for over 20 years.
Lastly, a fact that piqued my interest was that an employee owner, who was not an executive and worked for the company for 30+ years, was able to retire with multiple hundreds of thousands of dollars in his ESOP. From my perspective, that was really comforting. I think there is a lot of pressure in the business world to climb the corporate ladder to have things such as a large retirement fund. But Mid South taught me that becoming an executive is not the only way to retire comfortably. I learned so much about how ESOPs can benefit employees, and it has made me seriously consider working for an ESOP company when I find a full-time job. In addition, I now have a much deeper understanding about ESOPs and how they function in a company. This trip was a great learning opportunity, and I am so glad I was able to participate.
Zoe Mendel
Zoe is heading into her senior year at Bucknell University in Pennsylvania, where she is majoring in Psychology.
After working at The ESOP Association for about two months, I was inspired to see the tremendous positive effect employee ownership has had on the culture of the workplace and the commitment from each hard-working employee at Mid South Building Supply, Inc. Having an ESOP has not only allowed Mid South Building Supply to give their employees a retirement plan; it has ensured that every employee is invested in growth, productivity, and success at the company. When the company grows, employees get to feel this gain for themselves as well.
It was heartwarming to hear the stories of employees getting to watch their accounts grow and how that makes a difference in the work they do. Last year the share value at Mid South reached a peak of about $20,000, which showed hard work and resilience in response to the housing market crisis of 2008 and Covid-19’s impact on the economy.
I found it encouraging to see how these figures indicate the company’s growing success, but also how they set up employees with a better and more financially secure future. I learned that the average time an employee works at Mid South is 11 years, which is significantly longer than the U.S. average of just under four years. Additionally, while some employees have left the company, about 80% have come back to get rehired. This statistic reflects the effect an ESOP has on improving employee retention rates and the employees’ commitment to creating a true family at Mid South.
It was amazing to witness such a lively, forward-thinking, and protective work environment where each employee had each other’s back and wanted one another to succeed. It truly made me wonder why more people do not know about ESOPs. Furthermore, I was intrigued to hear that Mid South uses their ESOP to create a point of difference for their clients. Although they sell building supplies that so many other companies may sell as well, their ESOP structure sets them apart as a company with employees who truly care for their customers and are committed to providing exceptional service.
Additionally, it was great to learn more about TEA’s influence on companies’ success. I attended TEA’s National Conference in May 2025 and, as a new intern, I did not fully grasp what these conferences provide for so many companies. It was great to hear about how beneficial TEA events are for Mid South, and how they allow employee owners to network and develop relationships with other companies, as well as learn the best practices and ideas for how to make their ESOP work for them.
I am pleased to be part of an organization that works in the interest of ESOP companies, and after visiting Mid South, I plan to apply these new insights to better inform what I do at TEA. The employees at Mid South seem so genuinely proud of their employee ownership and the work that they do for the company. I appreciate that Steve Earle and others took the time out of their busy day to educate us on their company, and it really showed how much they care about and believe in their ESOP.
