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Digg It - How Managers Can Help Retain Their Best Employees
A major problem for employers today is attracting the best talent, and then retaining key employees. R 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 esearch shows that the key ingredient for retention lies within the manager’s ability to understand wha ; 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 employees really want. The survey results below first came out in 1946 in Foreman Fact, from the Lab lude drug-coated devices, drugs packaged with delivery devices in medical kits, and drugs and devices packaged separately but intended to be used together. r Relations Institute of NY and was produced again by Lawrence Lindahl in Personnel magazine in 1949. here is enormous increase in the number of combination products entering the market in the recent years. Combination products have proven advantages but fixe This study has since been replicated with similar results by Ken Kovach (1980); Valerie Wilson, Achieve d dose combinations are still in the process of convincing regulatory authority on their advantages over the single ingredient formulations. Combination pro s International (1988); Bob Nelson, Blanchard Training & Development (1991); and Sheryl & Don Grimme, G 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 HR Training Solutions (1997-2001). Pay particular interest to the top three things managers thought em 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 ployees want from their jobs, and then look at what employees said they REALLY want: WHAT MANAGERS nation products and maximize the revenues. But the companies involved in this practice are overlooking that they are burdening the patients both economically HINK EMPLOYEES WANT, starting with the most important: 1. Good wages 2. Job Security 3 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 . Promotion and growth opportunities
4. Good working conditions 5. Interesting work 6 ts. Some of the combination products were well accepted by physicians while others suffered. Companies involved in development of combination products are fi Personal loyalty to workers
7. Tactful discipline 8. Full appreciation for work done ding difficulty in defining their combination products and facing various challenges from selecting a combination to marketing it. Following aspects would a 9. Sympathetic understanding of personal problems
10. Feeling “in” on things WHAT EMPLOYEES S dd to the challenges in developing combination products: Which markets to tap where the combination products can do fairly well? Which combination prod AY THEY WANT, starting with the most important: 1. Full appreciation for work done 2. Feeli cts are meaningful and rational? Which therapeutic categories to select? Which Combinations can address unmet needs of the patients? Do combin g “in” on things
3. Sympathetic understanding of personal problems 4. Job security 5. tions increase the patient compliance? What would be the developing cost? How to tackle the risks encountered during combination product developmen Good wages
6. Interesting work 7. Promotion and growth opportunities 8. Personal loy 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 lty to workers
9. Good working conditions 10. Tactful discipline You can see there is quite ping new procedures for reviewing their safety, efficacy and quality. Professional from academic institutions, pharmaceutical industries, health care indust a discrepancy. This indicates the value of the “intangible rewards” of appreciation, involvement and y and representatives from various regulatory agencies are working out to design the regulatory requirements for manufacture and sale of combination products understanding. An important benefit is that the top 3 things employees want are all influenced by the . 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 elationship with their direct manager or supervisor. Show your employees you truly value them, and nev elopment. They need to be wiser in analyzing the market trends and the regulatory requirements. Companies that provide selfless information through particip er underestimate how important you are in maintaining a strong workforce and retaining your best talent 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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