Advice You - Business

This statistic should send a chill through your heart: according to a recent survey by The Gallup Organization, when employees were asked in a scientific way what made them happiest during the day, spending time with their

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

boss ranked dead last—after doing household chores! Research also revealed that the Number One reason people quit their jobs is a poor relationship with their supervisor. You’re not The Enemy—at least I hope you don’t hav

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

Examples of combination products may in

e an adversarial relationship with your staff—so what’s causing all this unhappiness?

As a business owner I can multi-task with the best of them, but I know the overwhelm we face, and I admit one of the first things to su

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

ffer can be our daily interactions with our team. Especially when you have good workers you know you can rely on, it’s easy to slide into taking them for granted, but in this competitive market, that’s a bad idea—a very ba

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

idea. I know of a boss in Florida who would happily pay a $50,000 fee to fill each of several long-standing administrative openings. That’s how desperate he is, and it’s only going to get worse.

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

Combination pro

target="_blank">While predicting numbers of new jobs and whether the employees will be there to fill them is an inexact science, most experts interpret data from the U.S. Bureau of Labor Statistics to mean there will

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

be a significant shortage of skilled workers in the near future—which will only escalate as Baby Boomers start turning 62 in 2008. Some labor analysts predict the U.S. economy will face a shortfall of 10 million workers by

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

2012. Even if there are enough people seeking jobs to match the number of openings, not enough of them will have the training and experience needed for the available positions, causing greater competition for the most qual

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

ified workers. Already, experienced, capable employees can demand jobs that suit their needs—it’s a seller’s market.

Here is what research shows workers want from their bosses:

· to have clarity about thei

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

r duties

· to have the necessary tools to perform their job

· to be recognized for meeting goals and doing good work

· to have their input sought and valued

· to be encouraged to grow

· t

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

be trusted and respected

· to be included in making plans that affect them

· to be cared about as a person

How do you think you’d rate based on that list? If you’d really like to know, download my free surv

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

Following aspects would a

ey and hand it out to your staff.

Another hallmark of good bosses is that they focus on their team members’ strengths and positive characteristics, rather than berating and hounding them for their mistakes. Gallup statist

dd to the challenges in developing combination products:

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

ics point out that 77% of employees who are engaged in their jobs feel that way, while only 23% of the less-engaged and 4% of non-engaged workers feel supported in that way. There is undoubtedly reciprocal action taking pl

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

ace: the more engagement a team member expresses, the more positive feedback she receives; but you could also say that the more a worker is encouraged, the more engaged in your business she becomes.

What about flexibility

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

When team members bring new ideas to you, what’s your response? In my book, Finding Joy In Your Job, I coach workers how to find more fulfillment in the jobs they already have. In one section, I describe the top

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

Six Nixers, bosses who throw buckets of water on every hot new idea they hear. To remain—or become—engaged with your mission, your staff needs to feel like they can broach new ideas, suggest improvements and improve system

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

Professional from academic institutions, pharmaceutical industries, health care indust

s. When’s the last time you implemented an employee innovation? If you can’t remember when, then you might want to start seeking team input.

Ironically, my own research in giving workshops across the country shows that bo

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

ses and employees actually want the same basic things. Employees want to do good work and be valued for it, and you want to reward excellent work. They want to be able to talk candidly with you, and you want to have produc

.

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

tive communication with them.

I contend that any boss could become better, and that the payoffs far outweigh the costs. If you have valued employees you want to retain or if you’re actively searching for new team members,

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

Companies that provide selfless information through particip

I urge you to start by looking in the mirror, encouraging team feedback and becoming the kind of boss your team members want to partner with. Spending time with you surely ought to rank higher than mopping floors

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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If you are looking for the salary of a freelance editor, how will you find this information?

What are you doing everyday to make sure the customer turns to your organization for all their needs? Thrilling the customer should be a way of doing business and not something that is an exception.

Perhaps it is crossed your mind that you could start your own oil company. I had considered this scenario recently for a fictional work.

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