EP23 - Makenzie Wirth Interview-Journey to an ESOP Newest Team Member!

On this episode, Jason Miller interviews Makenzie Wirth, the newest member of our Journey to an ESOP team. From a career in public accounting to her current role in ESOP advisory, Makenzie discusses her journey in learning about employee ownership over the last several months. The podcast highlights her fresh perspective on ESOPs and employee ownership and includes a sneak peak of what she will bring to the podcast in future episodes. 

Transcript

Introduction: Welcoming a New Voice

Jason Miller:
Welcome back to the Journey to an ESOP and Beyond podcast, where we explore all dimensions of employee ownership and its impact on companies, people, and communities. I’m Jason Miller, your host, and today’s episode is special. I’m joined by McKenzie Worth, my teammate at Journey to an ESOP. She’ll be stepping into a larger role on the podcast, sharing thought leadership, and hosting future episodes.

McKenzie approaches complex problems with curiosity, a heart to help people, and a fresh perspective—reminding us that employee ownership benefits from both experience and new ways of thinking. Today, we’ll focus on her perspective on ESOPs, what excites her about the work, and what she hopes to bring to listeners.

Getting to Know McKenzie

Jason Miller:
As we do with all first-time guests, we start with a fun question: What’s your favorite movie?

McKenzie Worth:
Thanks, Jason! I’d say Good Will Hunting. It’s engaging with drama, comedy, and romance—all things that kept me awake! But more seriously, it reflects the story of growth and discovery, which resonates with my approach to work.

Jason Miller:
Great! Now tell us a bit more about yourself—your background and how you found your way to employee ownership.

McKenzie Worth:
I started my career in public accounting for about five years, which gave me a solid foundation. Over time, I wanted to branch into consulting and engage with clients differently. The opportunity to work in ESOPs fell into my lap, and after learning more about it and meeting the people in this space, I was immediately excited.

Even though I’m only 6–7 months in, I learn something new almost every day about ESOPs. It’s been an incredible journey so far, and I’m enjoying every step of it.

The Evolution of Understanding ESOPs

Jason Miller:
When you first heard about ESOPs, what did it mean to you?

McKenzie Worth:
Initially, I thought of ESOPs as just an employee benefit plan—like what I knew from Publix. Over time, I’ve realized it’s so much more: a succession plan, a transition of ownership, and a way to align interests between employees, owners, and the company. The “win-win-win” aspect of ESOPs has been the most insightful for me.

Problem-Solving and Rewarding Work

Jason Miller:
You enjoy solving complex problems. How does ESOP work allow you to do that?

McKenzie Worth:
ESOPs are complex, but the individual pieces are manageable. Pulling everything together and helping owners navigate their options has been incredibly rewarding. I especially enjoy showing owners what different scenarios will look like and supporting them throughout the transition process.

Seeing the Heart of Employee Ownership

Jason Miller:
Can you share an example where you saw the heart of employee ownership?

McKenzie Worth:
Often, even in the exploratory phase, companies have a strong culture. Owners are generous and want employees to feel rewarded. When ESOPs are formed, the announcements and celebrations reveal empowerment and excitement from employees—they truly feel like owners.

Surprises and Insights

Jason Miller:
What’s surprised you most about working with owners?

McKenzie Worth:
Two things: first, owners often come prepared and have already done their research. Second, their generosity is striking. Many prioritize employees’ success over their own financial gain, sometimes even forgiving seller notes to support the company and its people.

Jason Miller:
That’s a great example of the intentionality behind ESOPs. What do you notice when focusing on the ESOP transaction itself?

McKenzie Worth:
Owners need to understand the implications beyond just forming the ESOP. Continuous duties, regulatory compliance, and staying informed are critical. It’s about context—combining what they already know with what’s new in an ESOP.

Favorite Parts of the Process

Jason Miller:
Which part of the ESOP process resonates with you most?

McKenzie Worth:
I love the feasibility phase—modeling scenarios, showing owners their options, and helping them make informed decisions. I also enjoy quarterbacking the deal, ensuring nothing slips through the cracks, and guiding owners through the process with confidence.

Looking Forward: Hosting and Future Conversations

Jason Miller:
You’ll be hosting episodes soon. What conversations are you excited to bring forward?

McKenzie Worth:
I’m excited to educate listeners on ESOP accounting nuances and bring a fresh perspective from someone early in their career. I hope to engage others new to ESOPs and share actionable insights for both individuals and organizations.

Jason Miller:
How do you stay grounded stepping into a new role like this?

McKenzie Worth:
It’s okay not to know everything. Do your research, ask questions—no matter how small—and lean on others for guidance. Being new is an advantage if you’re willing to learn.

Advice for Owners Considering ESOPs

Jason Miller:
What should business owners know as they explore ESOPs?

McKenzie Worth:
Be ready to “drink from a fire hose.” Ask questions, learn continuously, and rely on your advisors. Approach the process with an open mind—it’s complex, but incredibly rewarding.

Hope for the Future of Employee Ownership

McKenzie Worth:
The ESOP community is growing rapidly. Resources, education, and connections continue to expand, giving me hope that more companies and employees will experience the benefits of employee ownership.

Final Takeaways

• Fresh perspectives bring valuable insights to ESOP work.
• ESOPs are not just financial—they’re people-centered.
• The feasibility phase and guidance throughout the transition are critical.
• Community resources, mentorship, and support are invaluable for owners and practitioners alike.
• Curiosity, asking questions, and continual learning drive success in employee ownership.