TLMI Converter Meeting 2024 offers industry insights on key issues

Over 130 converters attended the TLMI Converter Meeting at The Cloisters in Sea Island, Georgia, March 3-6, getting the latest scoop from industry leaders and experts on the state of the market.

The two-day meeting addressed key topics of interest for North American converters today: artificial intelligence, succession planning, upcoming regulations, sustainability, the ‘green new world’ of cannabis labels and packaging, and more.

‘Relatively stable’ market

TLMI President Linnea Keen gave introductory remarks, and Corey Reardon, president and CEO of AWA Alexander Watson Associates, opened with a positive market outlook for 2024.

Stocking levels have stabilized going into the year, Reardon said during his 'Materials Outlook 2024' presentation.

'Across the value chain, there's general consensus we’re behind the destocking phenomenon that plagued us in 2023,' Reardon said. 'Overall, I think the market in 2024...will be relatively stable.’

Next, Claudia St John, president of The Workplace Advisors, hit the highlights from the TLMI Compensation and Benefits Report 2023, including flex schedules some converters are trying, like four 10-hour or even four 8-hour shifts. She said that seems to be an emerging trend, full-time but at a reduced level.

Adam Peek, senior vice president of Meyers Printing and host of the People of Packaging podcast, then kept the crowd laughing during his 45-minute Monday keynote, ‘Don’t Turn Your Back to the Future: How Sustainability, Social Media, and Innovation are Impacting the Industry.'

Calling sustainability ‘the new normal,’ Adam Peek quoted Tony Perrotta from PA Consulting: ‘The lack of a climate action plan at any business is the lack of a business continuity plan.’

Peek also discussed technology and the future of artificial intelligence (AI), noting AI, blockchain and robotics are the three most common things he gets asked about and urging converters to start thinking about an automated future now.

An hourlong panel session on succession planning hosted by Andrea Crane of Crane Talent Group focused on three different alternatives to selling to private equity: employee stock ownership (ESOP); a professionally managed, family-owned company; and a family owned and operated company.

The panelists — Craig Curran of Nosco, Bill Muir of Grand Rapid Labels and Liz Pecha-Poelker of PrintFlex Graphics — discussed the pros and cons of their respective succession strategies.

The first morning concluded with a converters-only session, 'TLMI Management Ratio Study Report.'

Following the sessions, the afternoon offered leisure activities such as golf and a nature walk for the Sea Island Adopt-a-Sea Turtle Nest Charity.

A ‘phygital’ world

Bryan Vickers of Pace, LLP gave an update from the Regulatory Affairs Committee, including the latest from the PFAS and direct thermal task force. He discussed various state and federal bills that could impact the industry that converters should monitor as they move the respective legislature bodies.

Father-son duo David and Jonah Stillman of GenGuru gave the Tuesday keynote, 'Generations in the Workplace,’ addressing a burning question among converters: how to engage the next generation. The Stillmans explored the ‘phygital’ (a combination of ‘physical’ and ‘digital’) world of Gen Z living in constant connectivity and their ‘work-life blend,’ over the traditional work-life balance.

One important aspect of engaging Gen Z is to show them their potential career trajectory at the company or in the industry. ‘Making sure that young employees are able to see those career options is very important,' Jonah Stillman said. ‘Exposing young employees to resources like [TLMI’s Label Leaders of Tomorrow] is so important because we know it's one of the strongest retention strategies for the Gen Z employees, showing them all the different places that they can go if they choose a career in this industry.’

Companies can further tap into Gen Z’s competitive spirit by bragging and upping their tech game, David Stillman said, as they’re impressed by sophistication and hyper-customization. ‘They want to know they’re coming to work for a winning team – they’re in to win it.’

Next, Steve Katz of Label & Narrow Web presented on 'A Green New World: Cannabis Labels & Packaging,’ a blooming new market expected to see a lot of growth in the coming years.

With regulations varying state-to-state, staying on top of state restrictions remains critical for converters shipping across state lines, but they also can’t forget about aesthetics, because for this ‘wild, wild west of weed,’ as Katz put it, it’s all about that ‘shelf appeal’ for consumers.

Before the morning break, Brian Van de Water of SPL Consulting talked about the benefits of lean manufacturing now.

The second and final day of morning sessions concluded with the longest breakout for an open space conversation that centered around topics converters picked themselves: AI, sustainability, leadership, workforce and more.

Eugene Singer awards

After a pickleball tournament, the two-day event closed with a cocktail reception and awards dinner.

At the March meeting, TLMI also announced the 2023 Eugene Singer Awards: System Graphics, ATL, KDV Label and Belmark.

The TLMI Annual Meeting is slated for September 29 – October 2 in Orlando, Florida.