Digg It - Business

Striking the Manpower Balance in the Electrical Contracting Industry

The cyclical nature of the electrical contracting industry

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

demands owners and key decision makers need the know how to strike a balance between maintaining permanent electricians on the payroll a

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

Examples of combination products may in

nd keeping them busy (employed) during slow periods. Having the continuity and security of a core staff of reliable electricians is para

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

ount to meeting customer needs. Wouldn’t it be nice to have the ability to hire and let employees go according to market conditions? You

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

can…and without losing those loyal to your company.

Conversely, the flexibility must be in-place to accommodate higher workloads when

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

Combination pro

unusually large projects come your way but you lack manpower. What if you are given the opportunity to conduct business in a state 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

specific licensing requirements your permanent electricians do not have? Do you pass up the opportunity due to the difficulty in finding

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

the manpower needed? How are you set up to handle the situation to take on more work, maintain overhead costs, and increase your profit

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

margin? The answer is here…read on!

The Seasonal Situation

Some would argue that there is no such thing as a "permanent" workf

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

rce anymore, due to the ever-changing seasonal nature of the electrical contracting business. It does not make good business sense to k

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

eep a set number of permanent employees on the payroll when it is costing you money without any coming in!

The Solution

Keep a

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

Following aspects would a

small cadre of core electricians you trust and to supervise job sites. Secondly, based on the workload, hire your electricians as tempo

dd to the challenges in developing combination products:

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

ary employees and be able to release that person with little or no notice, legal liability, or severance package. Although the staffing

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

company’s rate may be slightly higher than a permanent employee's salary, the employer doesn't have to worry about training costs, benef

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

its, paid-time off, etc.

You will discover over time, the up-front costs to you versus net income generated by the temporary electricia

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

will put more into your bank account. Why? Because had you not taken on the work, staffed the job, and billed for the work there would

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

Professional from academic institutions, pharmaceutical industries, health care indust

be NO profit.

The plus side to using an electrical staffing agency is you have no overhead increase, no additional time spent doing pay

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

roll, insurance, vacation, benefits, discipline, and other HR functions. Finally, you keep the electricians only as long as the job last

.

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

. The staffing company is focused on your needs during the contract period. Imagine having 20 electricians on a job and only having to t

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

Companies that provide selfless information through particip

alk with one person to handle the entire HR job – top to bottom! Yes, it IS nice! It pays to be smart with the HR side of your business

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/32522/diggit-Flexible-Growth-Without-Risk-In-Electrical-Contracting.html">Flexible Growth Without Risk In Electrical Contracting</a>

BB link (for phorums):
[url=http://www.diggit.org.ua/article/32522/diggit-Flexible-Growth-Without-Risk-In-Electrical-Contracting.html]Flexible Growth Without Risk In Electrical Contracting[/url]

The Restaurant Industry is abuzz with the concept of online ordering and the benefits that it brings. So, how do you go about offering online ordering to your customers?

We are into the glooming 21st Century and are slowly moving from paper pads to notepads in every segment in various industries. What we used to do using papers, like writing accounts using pen and paper, maintaining employee records in registers etc are done using computers.

Summary: One of the biggest obstacles leaders face when trying to institute change in an organization is the status quo. Here is a way of recognizing the status quo for what it is, your determined, skilled opponent.

Tags

Links

Digg It - Flexible Growth Without Risk In Electrical Contracting

Related Articles: