Advice You - Business

How many times have you heard or read, “Our employees are our greatest asset”?

What are the chances of any company surviving if it cannot find the right employees – or find enough of them? In 2003 Roger Herman, Tom Olivio, and Joyce Gioia wrote in Impending Crisis that by the year 2010 the U.S. economy will support 10 million more

According to USFDA, a combination product is one composed of any combination of a drug and device; biological product and device; drug and biological product

jobs than there will be people in the work force to fill them.

This future scenario could make the late 1990’s volatile job market look like it was relatively stable compared to what we may soon experience.

Is your company currently at risk of finding enough good people? Can you predict whether or not your top employees are pl

; or drug, device, and biological product and fixed dose combination would include two or more combinations of drug.

Examples of combination products may in

anning to leave? In this era of information on demand, drastically changing work environments and workforces, and employees that bring a tremendous network of resources with them to work every single day (and also take those same resources home with them at night), wouldn’t it be good to know how you are really doing in the war for

lude drug-coated devices, drugs packaged with delivery devices in medical kits, and drugs and devices packaged separately but intended to be used together.

talent?

Peter Drucker states that, “66% of your new hires will turn out to be mistakes within the first 12 months”, yet most companies continue business as usual as it pertains to employee selection, development and retention. Most companies are constantly looking to hire more productive employees, but most don’t know the best plac

here is enormous increase in the number of combination products entering the market in the recent years. Combination products have proven advantages but fixe

e to start, as evidenced below:

• Most companies do not use any type of assessment tool prior to making an offer

• Of the companies that use assessment instruments, most use tools that focus only on personality traits

• Many of the personality style tools were not created for business use – they were intended to help identify dev

d dose combinations are still in the process of convincing regulatory authority on their advantages over the single ingredient formulations.

Combination pro

iant behaviors

• Many of the most commonly used personality assessments have reliability scores that are below the recommended minimums set by The Association of Testing Professionals and some are not intended for use as predictive tools

• Research on over 85 years of assessment history indicates that general mental ability (i.e.,

ucts have become life saving products for the pharmaceutical companies who doesn’t have many innovative molecules in their product pipeline and have been inc

how a person processes information) has the highest validity in predicting future job success of any single characteristic measured

The Best Selling Authors Say the Same Things

Several best-selling authors over the recent years have boldly suggested where companies and individuals should be moving in terms of helping people find

easingly used in the product life cycle management. Even the companies having product patents are trying to extend their product life cycle through the combi

their right niche in the world. It doesn’t matter whether you are coming from the individual’s or the company’s perspective, the results and conclusions are all the same.

All of the authors listed below agree that the best way to maximize productivity is to match people’s gifts, abilities and interests to the jobs you ask them to d

nation products and maximize the revenues. But the companies involved in this practice are overlooking that they are burdening the patients both economically

o. An employee who is a good match for his/her role will be more productive, make more money for themselves and the company, and stay longer than one who is not a good match for their role. This sounds simple -- like good old common sense, but we all know common sense is not all that common.

In 1999 Marcus Buckingham and Curt Coffm

and physically. They need to rightly judge the benefits of the combination products and they have to even look at the risks involved when combining the produ

an wrote First, Break All the Rules. The book was based on data collected by the Gallup Organization from over one million employees and 80,000 managers. Some of the conclusions drawn from this research included:

• Great managers do NOT believe that, with enough training, a person can achieve anything he sets his mind to

• Human

ts. Some of the combination products were well accepted by physicians while others suffered. Companies involved in development of combination products are fi

behavior can be divided into three distinct categories: skills (capabilities that can be transferred, or taught, from one person to another), knowledge (things a person is aware of, and can also be taught), and talents (recurring patterns of thought, feeling or behavior). This last category – talents - are either gifts bestowed a

ding difficulty in defining their combination products and facing various challenges from selecting a combination to marketing it.

Following aspects would a

t birth or developed before we reach adulthood, and can rarely be significantly changed after a person matures

• To best understand the talents that are most important in those occupying specific roles in your company, you should start by looking at the current top performers in those roles

Jim Collins wrote Good to Great in 2001,

dd to the challenges in developing combination products:

Which markets to tap where the combination products can do fairly well?
Which combination prod

explaining through another extensive research project why some companies turned out to be truly great, while other companies who faced similar circumstances did not. One of his startling conclusions was that, “The old adage ‘People are your most important asset’ turns out to be wrong. People are not your most important asset. The r

cts are meaningful and rational?
Which therapeutic categories to select?
Which Combinations can address unmet needs of the patients?
Do combin

ight people are.” His chapter 3, First Who, Then What, made many leaders stop and think about how they build their teams around themselves.

In 2002 Lou Adler released a revised version of his 1998 book Hire With Your Head. In it, Adler reviews a plethora of hiring practices and why some methods work better than others in building

tions increase the patient compliance?
What would be the developing cost?
How to tackle the risks encountered during combination product developmen

great companies. In his chapter about what to do after the first interview, Alder recommends using tools that have the ability to measure not only personality, but also cognitive skills and interests, and concurred with Buckingham and Coffman in saying that these tools should also be able to benchmark your company’s top performer

t?

As combination products don't fit into the traditional categories of drugs, medical devices, or biological products, the USFDA is in the process of devel

s in a specific job function.

Also in 2002, Rick Warren wrote a best-seller called The Purpose Driven Life, in which he describes why people are better at some things compared to others. Warren was not attempting to explain success from a business perspective like the other authors listed above, and he used slightly different termi

ping new procedures for reviewing their safety, efficacy and quality.

Professional from academic institutions, pharmaceutical industries, health care indust

nology. But there are many obvious similarities in Warren’s SHAPE framework for what people should understand in choosing their vocations compared to frameworks suggested by the other authors.

S = Spiritual Gifts, abilities for serving God given only to believers

H = Heart, your desires, hopes, interests, dreams and affections

y and representatives from various regulatory agencies are working out to design the regulatory requirements for manufacture and sale of combination products

A = Abilities, natural talents you were born with

P = Personality, behavioral characteristics that make us all unique

E = Experience, or what we have been exposed to

Companies look at this information and usually think one of three things:

• We’re doing O.K., we don’t need to change our selection or retention practices

• We pro

.

As there is an increasing trend of the combination products companies manufacturing such products should be able to tackle the problems involved in the de

bably could do better in these areas, but it would cost too much

• We don’t have the time to add this to our current processes

PeopleRight was founded in 2002 to help companies make more intelligent decisions in selecting, developing and retaining great employees. We show companies how they can take advantage of the latest researc

elopment. They need to be wiser in analyzing the market trends and the regulatory requirements.

Companies that provide selfless information through particip

h and technology in the assessment industry without breaking the bank or extending the selection process.

Our services normally cost less than the cost of one bad hire, and we are happy to measure our results to continue to earn your business. Over 95% of our clients have asked us back to do additional work after our first project.

tion in industry events and feedback to regulatory authorities would be able to face the challenges and will be successful in developing combination products

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Many residential cleaning companies start out as a one-person operation. But as your cleaning company grows and you add employees you will soon face the problem of whether you should send in a single person to clean a home or if you should send in a team. Some cleaners may prefer to work alone, but is that in the best interest of your cleaning company?

The plight of manufacturing companies in the UK led to an ever increasing demand for reduction of costs and increasingly the focus has been on the cost of supply chains. The nature of supply chains and their structure is however often overlooked, and many of the internal costs can be eliminated by examining the overall supply chain strategy. By developing a supply chain that reflects the needs of the internal customers, many of the previously unidentified inefficiencies can be eliminated and subsequent performance improved.

Are you looking to enhance your career but don't know where to start? Here are 3 simple strategies to help you improve your career plan.

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Advice You - Are You Winning the Talent Wars?

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