Main Subject - Business

Employee retention matters to all companies, for many different reasons. A high turnover of employees not only results in a loss of skills, a waste of training time already spent but also indicates something wrong within a company that might need addressing.

Turno

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

ver levels vary between different industries, and labor turnover in occupations such as call centers and the retail industries might not be so critical to a company as in the scientific, engineering and manufacturing industries. Higher rates of employee movement oc

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

Examples of combination products may in

cur in areas of low unemployment, as would be expected, and varies according to geographical area.

In a business where experience is valuable, a high turnover of staff can be damaging. This experience could be of the product, of the suppliers or of customers. Exam

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

ples of these three are in motor car manufacture, or even motor racing, fine chemicals where a knowledge of raw materials is essential and the insurance industry where customers have their favorite sales people.

If you lose your best mechanic, chemist or salesperso

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

n then you will not be able to easily replace them. It is an inability to quickly replace lost trained and knowledgeable staff that can seriously damage your company, especially if those that leave you join one of your competitors. It is very important, therefore,

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

Combination pro

that you look at the reasons why employees leave companies and try to do something to prevent it from happening to you.

A loss of sales personnel can be particularly damaging to your company because your customers frequently have their favorite salespersons. If tha

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

t person switches to another company in the same business then they can take their customers with them. Not only that, but they probably have information of your complete customer base, information which will be invaluable to your competition. This sort of informati

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

on loss can be devastating to a company, depending on what business they are in.

So why do staff leave? Why is that that some companies have a considerably higher level of employee retention than others? One reason is job satisfaction. Employees should know what i

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

s expected of them, not only day to day, but in the overall strategy of the company. All employees should have goals and the means to attain them. Without that motivation to attainment then the job can become mundane, and alternative offers can become attractive.

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

Another is prospects for the future. If an employee knows that a good performance in their existing position could lead to more responsibility and/or more money, then they will be more liable to remain with your company. With others it is only the remuneration, t

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

ough that can be less of a factor if the satisfaction, motivation and possible rewards in the future are sufficient to make current payment less of a factor. Many employees look to the longer term than the immediate rewards.

Employee retention, then, is directly re

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

Following aspects would a

lated to the way the employee is made to feel useful to the company. If their views are ignored and their experience not used in the way that it could be, they will be dissatisfied. Employees need direction in what is expected of them and require goals to meet. The

dd to the challenges in developing combination products:

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

se goals can be simple, such as making 25 widgets every day, or more complex such as maintaining average monthly sales to a company budget.

If they are given latitude as to how these goals are attained, then they will have more motivation than if they are working t

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

o a set of inflexible rules, where there is little need for thought, and initiative is punished rather than rewarded. There is no motivation in instructing sales staff to “sell as much as you can”, and there being no further reward in either position or cash whethe

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

r they sell ten units or a hundred.

Employee participation in company policy is always useful in reinforcing their perception of their worth to the company. If an employee feels that he or she is valued, then they will be less liable to leave without good reason to

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

do so. This participation need not affect core policy, but if they think that their opinion is unimportant then employees will have less satisfaction in what they are doing that if they felt that management valued their input.

How many times do companies employ c

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

Professional from academic institutions, pharmaceutical industries, health care indust

onsultants or other outside contractors to carry out work that could be more than competently completed by existing employees? This is a common fault, in that companies fail to establish the capabilities of their employees in anything but the job they are paid to d

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

o. There are many people who are able to carry out much of the contracted computer work, for example, but their worth is not recognized due to the ignorance of their managers in the technology involved.

The poor quality of supervisors and line managers are another

.

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

reason for a lack of employee retention in many companies. Too often promotion is given to those who have shown a flair for the job they were doing, but cannot manage. There is a world of difference between a great salesperson and a good sales manager.

Until more

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

Companies that provide selfless information through particip

companies become more professional in the way they manage and motivate their employees, those who fail to do so will have a low level of employee retention and so struggle to compete against those more professional in the way that treat and motivate their employees

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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