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Just Other Articles - Job Titles-Compensation - And Responsibilties - They Must Be In Sync
In my consulting work I am often asked how to pay people, and what titles go with what jobs. I think the right answer requires a thorough understanding of the responsibilities assigned to the individuals. I think the three pieces; pay, titles, and resp
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
onsibilities are tied together.
For starters compensation data by job title (not by defined responsibilities) by industry by geographic area and by size of company is readily available. Employers use this information and as well as employees - it’s re
For starters compensation data by job title (not by defined responsibilities) by industry by geographic area and by size of company is readily available. Employers use this information and as well as employees - it’s re
; 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
lly how negotiations begin. It’s also why employees care so much about the title. Unfortunately many employers “give” titles away too easily.
To help you with these three decisions I think you should spend time creating an organization chart with the
To help you with these three decisions I think you should spend time creating an organization chart with the
lude drug-coated devices, drugs packaged with delivery devices in medical kits, and drugs and devices packaged separately but intended to be used together.
oxes clearly identified. That’s right; no matter what your company’s size make a chart. It can be very simple and I suggest you use simple terms not titles. Focus more on what is required of the “box.”
Label the top box, “Decision Maker.” Reporting to
Label the top box, “Decision Maker.” Reporting to
here is enormous increase in the number of combination products entering the market in the recent years. Combination products have proven advantages but fixe
that box might be three boxes; “Makes the donuts (MTD)”, “Sells the donuts”, “Keeps us out of trouble.” Maybe under MTD you might need two more boxes; “Buys the stuff ” and “Gets the donuts shipped.” Even if it’s just you and a partner or a jack-of-
d dose combinations are still in the process of convincing regulatory authority on their advantages over the single ingredient formulations.
Combination pro
Combination pro
all-trades person, create all the boxes - just put your name and the other person’s name in the boxes.
As you grow and more clearly see the future needs of the business you will add more boxes. You will also start hiring people and that’s when you nee
As you grow and more clearly see the future needs of the business you will add more boxes. You will also start hiring people and that’s when you nee
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
to get, titles, pay and responsibilities in sync.
I strongly, very strongly advocate - did I say VERY strongly advocate - that before you hire anybody, you look at the box they will fill and outline the results you want, the responsibilities they wil
I strongly, very strongly advocate - did I say VERY strongly advocate - that before you hire anybody, you look at the box they will fill and outline the results you want, the responsibilities they wil
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
have, and the authority you will give them. Try to define things in terms of units or dollars and time. You might say, “in charge of making 500 donuts per machine per hour”, or in charge of making the week’s donuts”, or “in charge of selling all the d
nation products and maximize the revenues. But the companies involved in this practice are overlooking that they are burdening the patients both economically
nuts to make that month’s projections.”
When you think, outline, and start to hire with this chart as your guide, you should also start to think about what the pay range for the box should be. A specific person’s experience will help you place them wi
When you think, outline, and start to hire with this chart as your guide, you should also start to think about what the pay range for the box should be. A specific person’s experience will help you place them wi
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
thin the pay range, and force you to think about pay raises. I like to hire the best person I can for every job, but when I hire somebody near the top of that box’s pay range, I know that I will have to plan on moving them up to a higher box soon, or w
ts. Some of the combination products were well accepted by physicians while others suffered. Companies involved in development of combination products are fi
en I tell them there’s no more room in that box’s pay range - I may lose them.
One other thing to consider with respect to pay; the range should reflect what you will pay for “standard” performance - handling the responsibilities and authority defined
One other thing to consider with respect to pay; the range should reflect what you will pay for “standard” performance - handling the responsibilities and authority defined
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
and generating the results required. In addition you should provide additional compensation based on performance. On this point I generally get a lot of questions and a few complaints. “Its impossible to provide performance based compensation on such-a
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
d-such a job.”
I don’t agree. Think harder. A good friend of mine Clark Johnson, when he was Controller and VP of Finance at Johnson & Johnson, saved the corporation millions of dollars by doing away with monthly accounting period closings and switchi
I don’t agree. Think harder. A good friend of mine Clark Johnson, when he was Controller and VP of Finance at Johnson & Johnson, saved the corporation millions of dollars by doing away with monthly accounting period closings and switchi
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
ng to quarterly closings only. I bet he had something in his compensation package that allowed the company to show how grateful it was.
Now for Job titles.
I believe the title reflects the time period over which the box has to focus. If the focus is
Now for Job titles.
I believe the title reflects the time period over which the box has to focus. If the focus is
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
machine’s output per hour, that title is probably “Machine operator.” If the focus is all the machines for a shift or a day, it’s probably “Shift or Day supervisor.” If it’s for a week or a month, it’s probably more accurately an “Assistant Manager.”
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
If the job is focused on meeting quarterly budget and output requirements, the title is probably “Manager.”
These are pretty clear. Higher-level jobs require more thought - start with the top job - “Decision Maker” and work down. The proper focus at
These are pretty clear. Higher-level jobs require more thought - start with the top job - “Decision Maker” and work down. The proper focus at
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
this level could be split. Somebody has to have the responsibility for looking out three to five years. This task belongs to the CEO. If the company is small, it may be a part of the next lowest level box. That box, typically labeled, “President”, shou
y and representatives from various regulatory agencies are working out to design the regulatory requirements for manufacture and sale of combination products
ld be focused on one to three years out. If the person in that box is worrying about quarterly sales, either she doesn’t know what to do, or the company is spreading its people too thin.
Vice Presidents should be focused on six months to a year out an
Vice Presidents should be focused on six months to a year out an
.
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
Department Mangers should be looking three to six months out.
All of the above are generalizations, rules of thumb - but the thought process is what counts.
When you interview and the person says they were a vice-president and they describe their jo
All of the above are generalizations, rules of thumb - but the thought process is what counts.
When you interview and the person says they were a vice-president and they describe their jo
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
as having to meet the weekly payroll, don’t hire them or pay them according to what you put in your VP box. By the same token, don’t perpetuate the problem by giving a clerk the title of VP because you don’t want to pay him what he and the box deserve
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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