Advice You - Business

The labor recession is over. During the course of the recession, almost 500,000 IT positions were lost according to publicly collected data and anecdotal information suggests even 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

According top a recent poll, American business will add over 200000 new IT jobs in 2005. Your staff will probably be scanning job boards to see their value and blocking access is usele

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

Examples of combination products may in

s; they’ll only do it at home.

So now that companies are hiring again, where are they going to find their staff of educated experienced professionals?

In most labor recessions, the gr

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

up most affected by staff reductions is that of older, more experienced workers. These individuals have often accepted managerial positions that are less in demand as firms do fewer new

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

projects and are often maintaining existing systems. Yet, initial demand during a recovery is for staff level professionals who are involved with execution, rather than managing. Thus t

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

Combination pro

e most affected group is the one least sought after when the recovery comes—unless they have used this time to revitalize their core technical skills and reposition themselves as staff,

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

rather than management.

The other impact of a labor recession is that fewer young people are focusing on technology as their potential profession resulting in fewer people entering the

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

labor force.

So your company has funded projects that need skilled staff. Where can you turn to?

1. Underutilized internal staff. Are there people on your staff who are high performer

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

in their current role who could be trained for lower level staff positions on the project? These people may have an understanding of your business and industry that will provide subtle

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

value on the project. Training them will help to retain them, keeping them from being picked off by other firms (Oh did I mention, that your staff is going to be poached again by other

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

irms with labor shortages, offered salaries that you may fund shocking).

2. Consider hiring people who can be employed through TN visas. TN visas are one year automatically renewable v

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

Following aspects would a

sas that were created under NAFTA. Often, these employees will work for less than US workers. It requires an offer letter crafted in a particular manner and a check for $50.

3. Work wi

dd to the challenges in developing combination products:

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

h search firms again. You don’t have the time to speak with every person who emails a resume to you, especially people who flip resumes to every job posting like burgers at a fast food

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

estaurant. Using search firms or employment agencies to assist with hiring will help with your time management. Interview them like you would a new employee. Once you accept them, provi

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

e them with useful screening questions in order to serve you. It is not enough to say, “I want a J2EE developer with two years of experience.” Tell them what the person should have done

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

within those two years. Give them a questionnaire to administer pre-referral.

4. Hire people who have H1B visas. You can pay for these people as consultants where you will be charged m

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

Professional from academic institutions, pharmaceutical industries, health care indust

re or you can pay for them as employees. Hiring someone with an H1B requires their completing a form on their first day of work that allows you to transfer the visa to your firm. Yes, y

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

u will help to sponsor them for their green card and that will cost money. They will pay for it with slightly lower wages and hard work. Getting someone who is early in their visa will

.

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

llow you access to an employee for several years.

In 2005 and beyond, as the labor market picks up steam, you will need to be creative to attract and retain staff from your competitors

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

Companies that provide selfless information through particip

Fair wages and benefits will be one element that will help; training will be another. Yet whether you will even be able to find someone when you need them will be most important of all

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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Put T-shirts or polo-shirts in to Google and dozens of suppliers will be returned, but how do you decide who to buy from? Generally speaking, it's best to stick to the products from tried and tested manufactures. Companies such as Hanes, Fruit of the Loom and Gildan are all proven distribution outlets and you can view their catalogues online.

Military badges symbolize qualifications received through military training. Scouting organizations use badges to show group membership and rank. Organizations and institutions also honor similarly for various purposes. Instilling confidence and self-respect in humans comes easy with badges and medals.

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