Advice You - Business

It was only yesterday that your company had four job openings. The HR staff was able to fill these positions with ease. In fact, some days you wondered if you had one

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

too many recruiters on board.

Over the past six months, business has been great. You can’t keep up with the demand. You’ve approved 10 new requisitions for staff wh

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

Examples of combination products may in

ile your internal HR team works on replacing five key employees that left for the competition.

The job openings are listed with a number of contingency recruitment f

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

rms, who only get paid if they make successful placements. It’s been weeks and you have yet to see results.

If this sounds familiar then it’s time to analyze your re

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

lationship with your recruitment vendors.

Relationships matter-Think about it. How hard would you work on a RFP if you knew the potential client sent the specs out t

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

Combination pro

20 other companies? The same goes for contingency recruiting. If you’ve placed your job openings with a number of firms you are only hurting yourself. Instead, find

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

several agencies that share a similar business philosophy to yours. You’ll soon see dramatic results. In this business, it’s all about the relationship.

Pay full fre

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

ght-Congratulations. You’ve whittled the fee down from 30% to 20%. Yet you seem to be interviewing only “B” candidates. In life you get what you pay for and this is p

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

articularly true when working with recruitment agencies. Remember those “A” candidates you were hoping to attract? Well they are going over to those “A” clients who a

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 paying the full fee. Are you still feeling proud? Put your pride aside and offer your contingency firm a bonus for filling your positions with top quality candidate

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

s. You’ll more than make it up on the back end.

Partner with your recruiters-Hiring managers often believe that it’s the recruiters job to land the talent. This coul

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

Following aspects would a

dn’t be further than the truth. Seasoned managers know that it’s a partnership. Recruiters and hiring managers must work side-by-side. When a qualified candidate is p

dd to the challenges in developing combination products:

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

esented, clear your calendar and meet with that person. If you don’t, they may wind up meeting with your competitor.

Direct communication-It takes a while for recrui

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

ters to find the sweet spot. Direct feedback can minimize the ramp up time. Share as much information as possible. For example, if one of your competitors is going t

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

rough a merger or you have heard that employees are disgruntled at a particular company, let the recruiter know. Help them improve their game by telling them where th

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

ey are missing the mark. Before long, you’ll have enough top rated players to compete in the World Series.

Consider other options-When it comes to recruiting, one si

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

Professional from academic institutions, pharmaceutical industries, health care indust

e does not fit all. For example, when hiring key personnel, executive search firms are most effective. Search firm professionals act like senior advisors. Contract re

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

cruiters, who are usually paid an hourly basis, can be cost effective if you are looking to staff a considerable number of openings in your organization. This approac

.

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

is particularly appealing to companies with cyclical hiring needs.

The employment market has its ups and downs. But one thing that never seems to change is the need

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

Companies that provide selfless information through particip

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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