Advice You - Business

It's hard to imagine why anyone would pick up a newspaper to find a job any more. With a seemingly endless array of career sites, mailing lists, corporate sites and newsgroups, job seekers have more options online than ever before. And the credit goes to the growth and advances in Information Technology (IT).

Traditionally job seekers most preferred channel was Newspapers & Per

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

sonal Referrals. As for online recruitment, the medium has come a long way in the last 3 years, but it remains a tool that has only been put to the test in a candidate-rich environment. Along with the IT revolution in the recruitment channel the current market has four clear segments - Corporate Sites, Personal Referrals, Newspapers, Recruitment Agencies & Job Sites.

Online r

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

Examples of combination products may in

ecruitment has an edge over other traditional media for four clear reasons:

* REACH

* SPEED

* COST

* QUALITY

According to The Top-Consultants.com 2004 Recruitment Channel Survey result Corporate Sites have been slowly increasing their share of applications over the last 3 years – up from 8 % to 13% of all application. Executive Recruitment Agencies generate 21%

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

of direct applications, which was initially 50% of all applications. Job sites have significantly increased its share by generating more CV applications than any other recruitment channel. Newspaper advertising appears to be the channel that has declined as a result – now generating less the 19% of management consultancy applications, or a fraction of what was being generated in

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

the late 1990s. Personal Referrals generates 9 % - 10% of all applications proving it to be a secured channel for a new job or career shift.

But this raises a question which recruitment to adopt. Currently the majority of companies are yet to make full use of the web as a recruitment tool.

The key trends in these market depicts that Recruitment Consultancies & Job Sites are a

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

Combination pro

le to generate large volumes of applicants. Personal Referrals potentially is able to reach a wider pool of candidates, but only it succeeds only in generating a small number of applications. Newspapers: It is clear that candidates now use this channel less than in the past. Corporate websites is still unexplored tool.

CORPORATE SITES

It has the large potential to significantl

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

y increase the volumes of applicants in the next 1- 2 years. The share of applicants can be doubled & become one of the major recruitment channels. But they are the least-used channels in today’s market, despite heavy investment made by companies in developing this technology. Inadequate marketing and a poor user experience are to be blamed. Its high time corporate understand th

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

at developing their career pages is equal to heavy investment made on ones own infrastructure or purchasing a costly software which will enable smooth functioning. Corporate websites have the considerable recruitment savings potential that is yet to be realized. They are the most attractive pool of jobs of any recruitment channel. Most jobs never get advertised on Internet job b

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

oards or in newspapers. But the fact is that they generate less than a third as many applicants as internet job boards is a reflection of how poorly this tool is utilized and poorly marketed. Corporate should design & develop their career pages in such a manner that attract more applications from the best candidates in other words a career site should be capable of maximizing th

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

e conversion rate of no. of people visiting the career pages. The hindrances can be overcome by the adopting following strategies:

1. SITES SHOULD BE INTUITIVE

Good site navigation and structure not just in company profile section but also within the careers section that will encourage the candidates to explore & learn more about your company. Candidates are judgmental and bug

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

, errors or poor site design will make them question the caliber of the whole organization. Make your careers section visible. It should be tempt a candidate to visit your careers page if not for applying but at least to know what kind of career your company offers. Apart from this a candidate while leaving your site should have the images of your company vision, mission, recent

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

Following aspects would a

achievement, future development, press releases etc.

2. JOB VACANCIES

Many sites fail to provide clear job description about the opening. A vacancy posted should allow a candidate to self-select himself for the same and not waste his time applying for which he would be rejected. It should clearly define about the role, skills required – technical skill & soft skill, education

dd to the challenges in developing combination products:

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

qualification, experience, and other details like work environment – what your company/department is like, no. of openings, date specific posting, other benefits, bench marked industries, sales pitch questions etc can be included which will act as added role in convincing the candidate that the openings are real time opportunities.

3. TIPS FOR CAREER ADVANCEMENT

Content of yo

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

ur career section also play a vital role. Candidates appreciate when apart from applying for job posting they are guided on their career advancement. Tips for case studies, interviews, securing job, presentations, handling office politics, communication skills, team work etc can be few topics that can form part of your career site.

4. CV SUBMISSION

Candidates prefer sites wher

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

e they are allowed to submit their existing CV rather than recreating a CV online. A long application form seems to be very tedious as most of candidates take the decision to apply sitting at their work place. And its logically not possible making a person to fill the lengthy application form sitting few yards away from his boss or from dial-up connection at home. CV submission

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

ot only comforts candidates but also attracts quality candidates by not forcing them to re-enter information that is already in his CV.

5. A CLEAR RECRUITMENT PROCESS

Allowing online tracking of how the candidate application proceeds will make a candidate believe in the recruitment process. Transparency is what a candidate looks for. Giving a user id to the candidate, sending

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

Professional from academic institutions, pharmaceutical industries, health care indust

your Newsletter, career tips, current openings, etc will help you to retain the best candidates interest in joining your organisation. The recruitment process should be automated but it does not hold good of sending an automated rejection emails on submission of his CV.

6. INTERACTION & FEEDBACK

According to The Top-Consultants.com 2004 Recruitment Channel Survey candidates li

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

ke to provide information and then see that what is presented to them in turn has been tailored to their needs or circumstances. Candidates resent firms that do not keep them in the progress of their application this left candidates with a less favourable impression of the firm. Feedback form, site page rating, email to a friend can be a few content of your site which will save

.

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

you from getting a feedback candidates as “ sending my CV into a black hole”. Incorporate a “refer this job to a friend” link on your careers pages, that allows readers to send a recommendation for a particular job on to their friend and colleagues.

7. BRANDING

Whenever you post job adverts to job sites, be sure to include a link within your advert to your own careers website.

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

Companies that provide selfless information through particip

Most job boards will not charge for this inclusion in your advert, but it is a great branding exercise for you as it ensures that candidate awareness of your corporate careers pages is magnified. Over time, more and more candidates will come direct to your site as a result.

Putting theses strategies in to action will surely help you to attract lots of good traffic to your site

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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Career assistance for any position. The first in a series on selecting the right company for your career. This is a discussion on two types of entities based on the leadership; entrepreneur or corporate executive. This article allows you to take a moment to think about the leadership of any company you are considering to help you bring your career to the next level.

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Key Indicators allow you to track the health and growth of your business. By deciding what values are critical, then measuring them over time, you can determine exactly where you are in your progress towards your business development goals.

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