Advice You - Business

One of the biggest challenges any business owner or manager has is hiring the right people. I've recently discovered a simple, inexpensive yet very effective way which will help you get it right. This week I've asked Nat

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

han Chanesman, Managing Director of Myprofile Pty Ltd. to please explain…

"Without quality employees who share your vision and work ethic your business is not going anywhere.So how do you find the "right" employee?

We'

; 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 all experienced hiring the "wrong" person. It's a nightmare. Hiring mistakes costs money, time and worse can easily ruin your business and your health! A recent survey in Forbes Business Magazine revealed, "Hiring the

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

wrong person is the prime cause of business failure in the USA". For most employers it's a lottery, hire someone and hope it works out.

People problems take the most toll on us personally producing significant emotional

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

wear and tear.

What if you had a tool that could tell you in advance of hiring, if the candidates applying have the right attitude and behavioural style to do that job successfully.

Now that would be something! Well re

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

Combination pro

d on. It's now possible to predict behaviour quickly and accurately.

People can do most jobs if they are qualified and skilled for that position. However some people have a more natural aptitude for a particular type of

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

job. Their behavioural style closely matches the job and as a result, they do better, are less stressed, can't wait to get to work, are enthusiastic and stay with you longer. The ideal employee! These are the people you

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

need to hire..

Which Behavioural Style Are You?

Four dominant styles define everyones behaviour

Whilst we are all different, our behavioural habits and style are more predicable than we think. We each have a dominant

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

tyle and this determines how we manage at work, at home, in our relationships, how we communicate and importantly what careers we are best suited to.

D - Drivers. These are people who want to get things done. Active and

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

fast paced, more interested in tasks than relationships. Often strong willed and very assertive, they push to have things done their way.

P - Promoters. These are people who want to be noticed. Active and fast pace the

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

are relationship oriented rather than tasks. Often very expressive, chatty, friendly and usually dramatic. Do things more intuitively.

S - Supporters. These are the people who want to get along. Very social and relatio

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

Following aspects would a

ship oriented and not as vocal or enthusiastic as Promoters. Very dependable, work slower, great team players, amiable, want to help, show concern and want take care of everyone.

A - Administrators. These are people who

dd to the challenges in developing combination products:

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

want to get it right. Task oriented, not big on relationships, not very social and don't express their feelings. Very analytical, cautious and risk averse. They work at a slower more methodical pace and are less asserti

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

e and less expressive.

Each style has it's own behavioural patterns. Some styles don't get along, others are more suited to each other.

Interestingly the population is evenly spread, in other words 25% are one of four

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

tyles and more significantly 75% are of a style different to yours.

As an employer it is important that you know your style and that of your employees. Each style thinks differently, reacts differently, communicates dif

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

ferently, works at a different pace, handles emotions differently, manages stress differently and solves problems differently. Not necessarily worse, not better just differently. As an employer your style is most likely

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

Professional from academic institutions, pharmaceutical industries, health care indust

oing to be different than your employees so you need to know who your staff are and how to communicate with them."

The Final Word

It's really important to consider all these factors when hiring people. So why not make

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

our life easier, save time and money and utilise MyProfile. You'll discover in less than 10 minutes the behaviourial style of a candidate or employee. MyProfile tells you if the person is suited to the job, if their work

.

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

ing style match that required to do the job. What would normally take months of relationship building and in many instances, a lot of heartache, can be predicted using this tool. For a miniscule investment of $33 can you

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

Companies that provide selfless information through particip

not afford it?

Further details are available on www.myprofile.com.au or contact Nathan directly nathan@myprofile.com.au

tion in industry events and feedback to regulatory authorities would be able to face the challenges and will be successful in developing combination products

The first job the individual lands after graduation could lead to better opportunities in the future. If after how many years the employee sees no growth in the company, perhaps it is time to do an executive job search before leaving the current position.

On Friday night, as I am sitting in my study room, a thought just crossed my mind… is it right to accept a job opportunity with your ex-employer? I know some of you might say, “No, one should not” and many of you might say, “Yes, One should”.

By hosting a fundraiser, not only are you helping your community but you will gain invaluable exposure for your business.

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Advice You - How to Hire the Right People

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