Board Converting News, May 16, 2022

BoardConverting Serving the North American Corrugated and Folding Carton Industries for 38 years May 16, 2022 VOL. 38. NO. 20

The ‘Great Resignation’ Myth: Why People Are Quitting Jobs BY BRUCE FEILER I’m a sucker for a good origin story. Anthony Klotz may have the best one going right now. Klotz, a professor of management at Texas A&M and an expert on why people quit their jobs, was being interviewed by Bloomberg re- porter Arianne Cohen early last year about how people could deftly

Pratt To Establish $200M Innovation Center In Texas Pratt Industries, Inc., through its subsidiary Pratt Corrugated Holdings, Inc., will locate a Regional Manufacturing & Innovation Center at High Point 67 in Cedar Hill, TX. Pratt will be the primary tenant on the High Point 67 cam- pus, occupying one-million square-feet and investing more than $200 million in equip- ment, inventory, and building improvements. Pratt’s Cedar Hill facility will employ 150 full- time workers to manufacture corrugated box- es and custom packaging solutions. Pratt is America’s fifth largest corrugated packaging company and the world’s largest, privately-held producer of 100 percent re- cycled containerboard. The Georgia-based company operates an extensive recycling company to supply five of the most modern, 100 percent recycled paper mills in the U.S. “We’re very honored to be in Cedar Hill and we’re committed to the great state of Texas – in fact this is our fifth box factory here,” said Anthony Pratt, Executive Chairman of Pratt In- dustries. “We have long prided ourselves on the fact that we employ 11,000 Americans in well-paying, green-collar manufacturing jobs and we have now invested in America to the

walk away from their jobs during the pandemic. He described what happened to Adam Grant on his WorkLife podcast. “I was sharing my research and mentioned that I think it’s really valu- able that she’s doing this story, because I think there’s going to be a great resignation in the US and the coming months.” Boom! A meme, a consensus, and an era-defining phrase was born! But is it right? The U.S. Labor Department recently released its monthly report on labor participation. What’s called the “quit rate,” the number of people who quit their jobs every month, reached an all-time high. In March, 4.5 million people quit their jobs. They weren’t laid off, furloughed, or fired; they voluntarily walked away. Multiply that figure times the number of months in the calendar, and that means 50 million people are now quit- ting their jobs every year. That’s a third of the workforce! A great resignation, indeed. Not so fast. That narrative is actually quite misleading. The Labor Department has been monitoring this figure for years. When you pan out, it turns out that the quit rate has increased every CONTINUED ON PAGE 24


WHAT’S INSIDE 5 NAM: Activity Strengthens In April, Despite Challeneges 8 Greif Announces $50/Ton Price Hike On URB, CRB 14 Max Solutions To Invest $27M, Create 150 New Jobs In NC 32 PPSA Safety Conference Slated For June 12-15 In FL

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