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After birds, flowers and baseball, another sure sign of spring (or early summer) are moving vans. They’re everywhere. For families on the move, it’s getting to be that time of year.

If you’ve relocated existing employees or new hires

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

, you know what a headache it can be. This is true, whether you have a formal relocation policy or not, and regardless of real estate market conditions.

And if you can get past family issues, the cost of living, housing, and the thoug

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

Examples of combination products may in

t of being in an undesirable area—the rest is easy.

Some of the biggest challenges recruiting new hires, as well as relocating or transferring existing employees, are family concerns, the cost of living and housing issues. And just as

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

important, the unwillingness to move to an undesirable area. These concerns are up nearly 50% from 2002, according to the Employee Relocation Counsel, founded in 1964 to provide current issues and trends for the movement of employees.

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

Relocation Strategies for Uncertain Times

In an article from Workforce Management magazine, representatives of 45 major companies met with a leading relocation real estate company to review the factors creating volatility in the

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

Combination pro

real estate markets. The meeting included discussions about how these factors might affect relocation policies and to identify strategies to prepare senior management for uncertain times ahead. The top 9 strategies they came up with i

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

clude:

1. End or modify mortgage interest differential assistance. Most programs require a difference of just a few percentage points, and with rates increasing from record lows, just about everyone might soon qualify for mortg

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

ge interest differential assistance. So either delete the program before this provision can drive program costs through the roof, or establish a minimum threshold (i.e., rates must be more than 10 percent of the difference greater than

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

5 percent for like mortgages).

2. Add back loss-on-sale provisions. If you add this potentially expensive provision, tie eligibility to aggressive marketing requirements like maximum list price guidelines and the requirement to

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

present all potential offers. This will increase the likelihood of a quicker sale and minimize the compounded costs of loss on sale and extensive carrying costs.

3. Decrease marketing time to 60 days. This will provide a sense

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

of urgency to transferees and encourage them to capitalize on pricing the home right initially since they won’t have the luxury of “testing the market.”

4. Increase temporary living period by additional 30 days. Gives employees

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

Following aspects would a

a little more time to market the home while it is lived in, which is when it will show best. This also may prevent exceptions.

5. Give hiring managers discretion for relocation bonuses. Take the relocation bonus out of the re

dd to the challenges in developing combination products:

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

ocation department (if you have one). This allows the company to implement consistent policies but provides the hiring manager—who will be paying the bill—the opportunity to adjust the bonus to get the ideal candidate.

6. Offer buy

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

r incentives, such as a mortgage buydown. Buyer incentives will help employee or candidate properties stand out from the mounting competition, draw traffic to the listing and increase the probability of a quicker sale. Mortgage bu

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

downs are particularly effective because in addition to differentiating the home in the marketplace, they overcome affordability issues and allow those buyers who feel they may have “missed the market” to participate.

7. Consider re

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

ising incentive programs. A sliding-scale incentive may encourage employees and new hires to price right initially, when it will have the most impact (i.e., 2 percent if an outside offer is generated within 30 days, only 1 percent

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

Professional from academic institutions, pharmaceutical industries, health care indust

ver the next 30 days).

8. Use a lump sum for expenses. Supported with the right level of services and counseling, a lump sum gives employees and new hires more flexibility to meet unexpected costs and stretch their allowances t

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

cover delays, while minimizing exceptions. Highly recommended is a lump-sum credit card, which also provides valuable cost tracking and expedites the delivery of funds to the individual.

9. Add a payback provision. Payback ag

.

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

eements dictate that employees and new hires will be responsible for covering a portion of their relocation costs if they leave the company within a specified period of time after their move. Many companies have extended the provisions

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

Companies that provide selfless information through particip

of their payback agreement to a two-year period, rather than one. Evaluate your own retention statistics so you can appreciate the real cost of relocation if you experience a higher-than-average turnover among transferees and new hires

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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Choosing a corporate gift needs to be done with great care; a wrong choice can lose you customers. A good choice which is appropriate, though, can help cement customer relations. It can also improve or maintain other important business relationships. here are a few pointers to choosing a corporate gift basket.

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