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Just Other Articles - 7 Steps to Workforce Retention
It's an IT jungle out there …and many of your employees may be thinking the jungles a bit greener somewhere else. With solo contracting becoming increasingly attractive, how do you make sure you retain key IT personnel?
Here are seven tips I’ve found helpful when working with companies suffering from talent drain, things you can do to not only re
Here are seven tips I’ve found helpful when working with companies suffering from talent drain, things you can do to not only re
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
tain staff but increase productivity and performance.
1. Stay on top of your rate of attrition Ironically, many companies examine their rate of staff attrition only after extensive losses. A widely publicized survey (done by CareerBuilder) earlier this year reported that 32 percent of IT workers planned to leave their job
1. Stay on top of your rate of attrition Ironically, many companies examine their rate of staff attrition only after extensive losses. A widely publicized survey (done by CareerBuilder) earlier this year reported that 32 percent of IT workers planned to leave their job
; or drug, device, and biological product and fixed dose combination would include two or more combinations of drug.
Examples of combination products may in
Examples of combination products may in
s in 2006. The Walker Loyalty Report for Loyalty in the Workplace reported that only 34 percent of workers were truly loyal.”
Considering that Silicon Valley’s average annual rate of attrition is about 20 to 30 percent and the national average has been just under 17 percent, these recent surveys should come as a shock.
If you don’t alre
Considering that Silicon Valley’s average annual rate of attrition is about 20 to 30 percent and the national average has been just under 17 percent, these recent surveys should come as a shock.
If you don’t alre
lude drug-coated devices, drugs packaged with delivery devices in medical kits, and drugs and devices packaged separately but intended to be used together.
dy measure attrition rates within your staff, start now. Determine whether your retention rate is within norms for your industry, company and location. If you see an upward trend, you’ll have time to take action.
2. Revisit your compensation plan regularly Money isn’t everything, but it is important when IT workers are in high de
2. Revisit your compensation plan regularly Money isn’t everything, but it is important when IT workers are in high de
here is enormous increase in the number of combination products entering the market in the recent years. Combination products have proven advantages but fixe
mand. According to a recent study by Randstad North America, 59 percent of employees say they would stay in their job if they received competitive compensation.
Are you really paying the going rate? Can your benefits meet/exceed industry standards? You should be doing regular reviews to ensure that your compensation really is competitive.
Resear
Are you really paying the going rate? Can your benefits meet/exceed industry standards? You should be doing regular reviews to ensure that your compensation really is competitive.
Resear
d dose combinations are still in the process of convincing regulatory authority on their advantages over the single ingredient formulations.
Combination pro
Combination pro
hing salaries can be labor intensive, as you have to factor skills, demand for skills, years of experience and your local job market. But some shortcuts are available.
HotGigs offers a 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
HotGigs offers a 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
age=poster&source=ezinearticles&article=workforce-retention" target="_blank">chart of hourly rates of contractors, organized by job type. With benefits, your full-time employees should be making at least 60 percent of the hourly rate of consultants. This poster also provides a good benchmark for budgeting for contractors.
3. C
3. C
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
nduct regular audits of job satisfaction Are you measuring the job satisfaction among your workforce? If not, start now using third party employee satisfaction measurement services, such as he Hay Group and WebSurveyor.com, or design your own survey. Then plan regular audits every year.
Formal third-party surveys have the advantage of as
Formal third-party surveys have the advantage of as
nation products and maximize the revenues. But the companies involved in this practice are overlooking that they are burdening the patients both economically
suring your employees of anonymity, improving response rates. But you can also create your own survey using services such as Zoomerang.
Ask about the many things thatinfluence employee satisfaction such as:
Ask about the many things thatinfluence employee satisfaction such as:
- compensation
- benefits
- advancement potential
- work hours
- training programs
- flexible worki
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
g conditions telecommuting job-sharing office environment and work tools
If you've never done an employee satisfaction survey, the results will probably surprise you. But they’ll help you determine how to cost-effectively offer the work environment that will keep good people.
4. Evaluate your manager
If you've never done an employee satisfaction survey, the results will probably surprise you. But they’ll help you determine how to cost-effectively offer the work environment that will keep good people.
4. Evaluate your manager
ts. Some of the combination products were well accepted by physicians while others suffered. Companies involved in development of combination products are fi
s The CareerBuilder survey found that 25 percent of workers were dissatisfied with their immediate supervisor. Poor managers are the bane of your retention efforts.
The employee satisfaction survey should identify problem bosses. Then work to correct the problem areas.
Good managers communicate the vision and value of IT with employees.
The employee satisfaction survey should identify problem bosses. Then work to correct the problem areas.
Good managers communicate the vision and value of IT with employees.
ding difficulty in defining their combination products and facing various challenges from selecting a combination to marketing it.
Following aspects would a
Following aspects would a
They remove barriers to their employee’s successes. They work on skills development programs and create formal or informal mentoring programs. They provide clear guidance on roles, responsibilities and rewards.
If your managers aren’t up to snuff, get them training or move them out. Your own lack of action may cost you even more employees in the
If your managers aren’t up to snuff, get them training or move them out. Your own lack of action may cost you even more employees in the
dd to the challenges in developing combination products:
Which markets to tap where the combination products can do fairly well?
Which combination prod
Which markets to tap where the combination products can do fairly well?
Which combination prod
long run.
5. Promote from within Promoting from within demonstrates to employees that you reward hard work, can boost productivity, and help with team collaboration and staff retention.
Establish lists of soft and hard skills for the required positions and responsibility levels with your employees, so they know exactly what to s
5. Promote from within Promoting from within demonstrates to employees that you reward hard work, can boost productivity, and help with team collaboration and staff retention.
Establish lists of soft and hard skills for the required positions and responsibility levels with your employees, so they know exactly what to s
cts are meaningful and rational?
Which therapeutic categories to select?
Which Combinations can address unmet needs of the patients?
Do combin
Which therapeutic categories to select?
Which Combinations can address unmet needs of the patients?
Do combin
hoot for. Establish a solid employee performance evaluation around these lists, and use it as criteria to promote.
6. Perk up the perks Well designed and executed an employee benefits plan has to include health insurance and generous retirement options. But additional perks can make the difference between retention and a farewell
6. Perk up the perks Well designed and executed an employee benefits plan has to include health insurance and generous retirement options. But additional perks can make the difference between retention and a farewell
tions increase the patient compliance?
What would be the developing cost?
How to tackle the risks encountered during combination product developmen
What would be the developing cost?
How to tackle the risks encountered during combination product developmen
party.
If you can, offer a menu of perks. On campus fitness centers, team building/bonding experiences such as talent shows, or company-philanthropic programs may appeal better to younger workers who get a kick out of extending their college-like experiences in the workplace. Those with families may appreciate more flexibility in work hours to he
If you can, offer a menu of perks. On campus fitness centers, team building/bonding experiences such as talent shows, or company-philanthropic programs may appeal better to younger workers who get a kick out of extending their college-like experiences in the workplace. Those with families may appreciate more flexibility in work hours to he
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
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
lp them balance work-life responsibilities.
And don’t forget spot rewards. Make sure your managers have “goodie drawers,” filled with inexpensive gift certificates, certificates of appreciation and time-off vouchers so they can immediately reward an outstanding job.
7. Make the work more interesting Most technology professionals
And don’t forget spot rewards. Make sure your managers have “goodie drawers,” filled with inexpensive gift certificates, certificates of appreciation and time-off vouchers so they can immediately reward an outstanding job.
7. Make the work more interesting Most technology professionals
ping new procedures for reviewing their safety, efficacy and quality.
Professional from academic institutions, pharmaceutical industries, health care indust
Professional from academic institutions, pharmaceutical industries, health care indust
want new challenges that help them update skills or they’re liable to head for the exit. Share company direction openly and honestly with your employees. You’ve hired skilled professionals; ask frankly for their advice and you’ll not only spark their interest, you’ll probably also receive great ideas.
Talk with them about what they’d like to do,
Talk with them about what they’d like to do,
y and representatives from various regulatory agencies are working out to design the regulatory requirements for manufacture and sale of combination products
and what they see as the “next big thing” for their talents. Give them access to training and remind their managers that every employee should be taking advantage of your training programs.
One tried-and-true solution: establish a mentoring program. Pairing new employees with more senior employees in other departments provides an important altern
One tried-and-true solution: establish a mentoring program. Pairing new employees with more senior employees in other departments provides an important altern
.
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
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
tive to the management chain, and may also bring fresh ideas into unexpected places.
Create regular task forces to tackle real problems facing the company, and ensure that they’re rewarded for coming up with solutions.
When all is said and done, your ability to retain employees comes down to the same factors that influence their success under yo
Create regular task forces to tackle real problems facing the company, and ensure that they’re rewarded for coming up with solutions.
When all is said and done, your ability to retain employees comes down to the same factors that influence their success under yo
elopment. They need to be wiser in analyzing the market trends and the regulatory requirements.
Companies that provide selfless information through particip
Companies that provide selfless information through particip
ur leadership.
Your workforce will stay because you respect their opinions, communicate well, create an atmosphere of trust, and generally demonstrate through action that you care about their professional growth and work-life balance. Employees who have a stake in the company's future are more likely to stick around and enjoy it.
Your workforce will stay because you respect their opinions, communicate well, create an atmosphere of trust, and generally demonstrate through action that you care about their professional growth and work-life balance. Employees who have a stake in the company's future are more likely to stick around and enjoy it.
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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