Advice You - Business

Having trouble retaining good people these days? Ever wonder why it is that just as you get someone up-to-speed on a project or position, suddenly they’re winging off to brighter h

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

orizons elsewhere?

Maybe you think you’re not offering enough money, or your healthcare benefits aren’t very competitive? Perhaps available parking spaces are too far from the fro

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

Examples of combination products may in

nt door.

Sorry, Bunkie: According to surveys, it’s not likely any of those things. Instead, the problem may be a lot closer to home, that is to say, you, the departing soul’s mana

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

er. It seems that the most prevalent reasons given by professionals for leaving one job for another fall entirely within the accountability of… drum roll… the ex-boss!

Here’s what

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

I mean, as evidenced by this list of employees’ “leading reasons” for changing a job from a survey by the Society of Human Resource Management:

• 89% offered higher salary elsewh

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

Combination pro

ere

• 85% didn't see enough career development potential

• 79% didn’t feel appreciated

• 74% burned out

• 71% balancing work and life issues too difficult

• 62% conflicts with

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

supervisor or co-workers

Get the picture? Notice that, as a manager, you possess control over practically EVERYTHING on the list. Only the first may be out of your control, though

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

you have either authority or influence on that one too. You may not, however, see your own job quite that way. And therein lies your basic rub.

Managers who do define themselves

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

as something more than just 5-star generals may in fact view this list as an apt description of what they currently do. Nurturers, coaches, orchestrators, career counselors—bosses

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

ho incorporate all these roles into their mandate probably experience the sting of employees leaving much less often than blood-and-guts command-and-controllers.

Studies over the

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

years have shown repeatedly that the best-run companies, i.e., most profitable, routinely pay attention to employee wants, needs and feelings. The annual Fortune “Best –Companies”

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

Following aspects would a

lists are rife with firms that behave this way. Given this reality, your firm (and you) should too.

So to increase retention and reverse employee emigration, regardless of your co

dd to the challenges in developing combination products:

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

pany’s actual policies, try one or more of the following, incorporating new actions into your managerial day:

• Meet with each of your subordinates on a regular basis for the sole

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

objective of career development. Ask where they see themselves in 2-5 years, what they enjoy most about their current work, and what they loathe. Search together for projects and

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

duties that will get your staffer truly excited.

• Tell your people, frequently, how good they’re doing. The phrase “Good job!” takes exactly one second to say though its effect e

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

tends exponentially. When workers NEVER hear this phrase, however, they cannot possibly know that it’s how you feel.

• Implement life-balance benefits, such as flextime, wide lati

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

Professional from academic institutions, pharmaceutical industries, health care indust

tude for punching in and punching out, the option of working from home, etc. Telecommuting used to be a big deal way back before the days of email but e-communication upends the tr

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

aditional need to keep regular hours. Give your staff time and flexibility to do each job in individualized ways. In the process you’ll help them lessen their work/family stress, m

.

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

king employment with you hard to beat.

Though only a few suggestions, you should be getting the idea. Expressions of support and caring, and the will to back it up, go a long way,

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

Companies that provide selfless information through particip

especially in our work world bereft of such notions. It ain’t only about salaries, stock options and health benefits; in the end it’s about showing real, live people that you care

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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Advice You - Can't Keep Good People? Probably Your Own Fault!

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