Digg It - Business

When it comes to the discussion of money, rarely will you find a common ground between the employer and the employee. And, this is true even in the janitorial indus

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

try.

Since labor is the largest single expense a business owner must face, employers strive to pay as little as possible. Basically, just enough to keep from quitt

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

Examples of combination products may in

ng.

On the other hand, employees want the highest pay possible. After all, they have to pay their rent, utilities, and other bills from what the employers pay them

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

. And in return, they contribute just enough labor so as not to get fired.

So, how do you bring together the ‘payer’ and the ‘payee’.

It’s commonly accepted that

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

he higher an employees wages, the more productive they will be. Conversely, the lower their pay, the less productive they will be. This is not always the cause, bu

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

Combination pro

t more times than not, it stands true.

In every industry, not just the service industry, the closer an employee’s wage is to the minimum wage, the less likely that

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

erson will be an asset to your business. However, the higher the wage you pay your employee’s, the less likely you are to pick up certain accounts. After all, peop

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

le tend to give favor to the lowest bidder, not the highest.

So, how do you balance the needs of the employee with the needs of the business owner? How do you pay

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

fair wage, and in return expect a fair day’s work?

Since 1989, I have successfully used a rule for calculating a fair wage for my personal. I call this rule, The

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

“7-Eleven’ Rule.”

Go to your local major convenience store (7-Eleven, Circle K, etc.) and ask the manager what’s the starting wage for new employee’s. Write this f

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

gure down.

Crime statistics state that one of the most dangerous jobs today is working at a convenience store. Every day clerks are faced with the possibility of b

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

Following aspects would a

ing robbed. And not just robbed, but also robbed at gun or knifepoint.

Yet, these stores continue to have people show up day after day, knowing this is the case.

dd to the challenges in developing combination products:

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

Now, working as a janitor, especially at night, can be dangerous, but not as dangerous as a convenience store clerk.

So, the 7-Eleven Rule for compensating janitors

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

is this: Take the starting wage for a new employee at your local convenience store and multiple it by 80%, and you’ll have wage that is fair to both the employee an

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

d employer.

For example, if the starting wage for a convenience store clerk is $10.00 per hour, then an employer should pay their janitors no less than $8.00 an hou

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

.

This formula has been proven to work in smaller markets, as well as large metropolitan areas. Regardless of the cost of living, major companies like 7-Eleven and

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

Professional from academic institutions, pharmaceutical industries, health care indust

others are paying approximately 20% more than successful janitorial companies.

Now, as an employer, you may feel that this number is too high. But keep in mind, t

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

e reason we have 50% + turnover per year is due in part to our employees feeling like their not being compensated fairly.

As an employee, you may feel that this num

.

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

ber is too low. But keep in mind you’re safer cleaning a building at night, than most convenience clerks are working in broad daylight.

So, overall, the 7-Eleven R

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

Companies that provide selfless information through particip

le will allow an employer to continue to be competitive, while reducing turnover by paying a higher wage to their staff.

D. Brownlee http://www.BreakTheCycleOKC.co

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

HTTP = HTML link (for blogs, profiles,phorums):
<a href="http://www.diggit.org.ua/article/22454/diggit-Janitorial-Compensation-Whats-Fair.html">Janitorial Compensation: What's Fair?</a>

BB link (for phorums):
[url=http://www.diggit.org.ua/article/22454/diggit-Janitorial-Compensation-Whats-Fair.html]Janitorial Compensation: What's Fair?[/url]

More often than not when talking about advertising materials people always tend to perceive them as a tool that benefits companies. However what they do not know is that, these materials keeps them informed and aware of the latest updates and newest products the company has.

There has never a more exciting time to join the nursing profession. As a nurse it is possible to work in, among others, hospitals, clinics, nursing and residential homes, occupational health services, voluntary organizations that run hospices or residential care and the pharmaceutical industry. Nurses also work in the prison service, university education, on leisure cruise ships or for the armed forces.

The question is, when should you use a recruitment agency and when should you go it alone? Recruitment agency fees are expensive and you want to be sure you are getting value for your money.

Tags

Links

Digg It - Janitorial Compensation: What's Fair?

Related Articles: