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Just Other Articles - Help! My Boomers Are Retiring!
Next time you've got a bunch of senior managers in a room together, ask those who are eligible to retire within five years to leave the room. Then figure out how you're going to replace them.
That's an exercise I've done with senior management in a client company. A full third of the senior people in t
That's an exercise I've done with senior management in a client company. A full third of the senior people in t
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
hat room were eligible to take their pension and go within five years.
This is not just a problem in the executive suite. Check out the senior people in sales. Check out the team leaders for key craft functions, the people who usually came up through union apprentice programs.
There are several defini
This is not just a problem in the executive suite. Check out the senior people in sales. Check out the team leaders for key craft functions, the people who usually came up through union apprentice programs.
There are several defini
; 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
ions of the Baby Boom and they all vary a little. But you're safe if you assume that it's people born between 1946 and 1964. In America, that's about 79 million people.
The oldest boomers hit sixty in 2006. In 2011 they'll start hitting sixty-five.
I call their exit "The Boomer Brain Drain." It's not
The oldest boomers hit sixty in 2006. In 2011 they'll start hitting sixty-five.
I call their exit "The Boomer Brain Drain." It's not
lude drug-coated devices, drugs packaged with delivery devices in medical kits, and drugs and devices packaged separately but intended to be used together.
likely that they'll all retire when they can and they certainly won't retire all at once, but enough of them could start heading for the exits soon enough that you'd better know how you're going to deal with the Brain Drain in your organization.
There are three things that make this a difficult problem f
There are three things that make this a difficult problem f
here is enormous increase in the number of combination products entering the market in the recent years. Combination products have proven advantages but fixe
r you. They are lead times, pipelines, and human complexity.
If you need a graduate engineer to fill an entry level position in 2011, when a senior Boomer engineer retires and people bump up the pipeline, that graduate engineer needs to be in college today. The same is true for skilled craft positions
If you need a graduate engineer to fill an entry level position in 2011, when a senior Boomer engineer retires and people bump up the pipeline, that graduate engineer needs to be in college today. The same is true for skilled craft positions
d dose combinations are still in the process of convincing regulatory authority on their advantages over the single ingredient formulations.
Combination pro
Combination pro
here people come through an apprenticeship program.
The people in the pipeline now constrain what you can do with people replenishment in the short term. In the long term, finding enough engineers and craft workers will be a problem that needs to be tackled by the whole industry or country.
Note, though
The people in the pipeline now constrain what you can do with people replenishment in the short term. In the long term, finding enough engineers and craft workers will be a problem that needs to be tackled by the whole industry or country.
Note, though
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
that the overall number of people in the pipeline is less than the number of people who could be retiring. That's because the generations following the Baby Boom are smaller.
This shortage is even greater in several key kinds of work. The number of people getting engineering degrees has been falling fo
This shortage is even greater in several key kinds of work. The number of people getting engineering degrees has been falling fo
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
years. So has the number of people in apprenticeship programs.
People are not interchangeable parts. That's a joy for most of us most of the time, but it can create problems for you as your Boomers start to leave.
Bill's a guy that everyone likes. He's easy to talk to. He's good at what he does in t
People are not interchangeable parts. That's a joy for most of us most of the time, but it can create problems for you as your Boomers start to leave.
Bill's a guy that everyone likes. He's easy to talk to. He's good at what he does in t
nation products and maximize the revenues. But the companies involved in this practice are overlooking that they are burdening the patients both economically
e distribution part of his company. When people have a problem, they call Bill, and he almost always knows who to call or what to do to help.
Kaye's been in the same clerical job for over twenty years. She's good at what she does. People know that Kaye's the one to call if you've got an administrative
Kaye's been in the same clerical job for over twenty years. She's good at what she does. People know that Kaye's the one to call if you've got an administrative
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
problem. She knows who to talk to at headquarters to set things right. She also knows just how far you can stretch the limits of any company policy.
When Bill or Kaye retire, you can fill their position, but you can't really replace them. Bill's problem solving ability has developed over years. So ha
When Bill or Kaye retire, you can fill their position, but you can't really replace them. Bill's problem solving ability has developed over years. So ha
ts. Some of the combination products were well accepted by physicians while others suffered. Companies involved in development of combination products are fi
Kaye's knowledge of policy and headquarters staff. And they both have relationships that are impossible for any newcomer. When they leave that special knowledge and those relationships go with them.
So what should you be doing? Start by doing what I call a "Threat Assessment." Take a look at every pos
So what should you be doing? Start by doing what I call a "Threat Assessment." Take a look at every pos
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
tion in your company. Concentrate on the ones where the incumbent is eligible to retire soon. Evaluate your ability to fill the slot with a qualified person.
Then put together a task force to take a long term view of the situation. You'll find that solutions to the Boomer Brain Drain fall into three bas
Then put together a task force to take a long term view of the situation. You'll find that solutions to the Boomer Brain Drain fall into three bas
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
ic areas.
Some solutions will be Human Resources (HR) solutions. These include improved recruiting and succession planning.
You may decide that you want to allow some people to work beyond their retirement date or to return to work after retiring. That may mean you need to adjust pension and retiremen
Some solutions will be Human Resources (HR) solutions. These include improved recruiting and succession planning.
You may decide that you want to allow some people to work beyond their retirement date or to return to work after retiring. That may mean you need to adjust pension and retiremen
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
rules.
You may also need to make adjustments to increase flexibility for your "retired" workers and you may need to change some materials and equipment to make them easier for older workers to use. If you've got union workers, you'll need to negotiate with the unions.
Consider some business process cha
You may also need to make adjustments to increase flexibility for your "retired" workers and you may need to change some materials and equipment to make them easier for older workers to use. If you've got union workers, you'll need to negotiate with the unions.
Consider some business process cha
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
ges to meet the threat of the Boomer Brain Drain. By streamlining processes or eliminating some steps altogether you may be able to maintain excellent performance with fewer people.
Investigate equipment issues, too. By simplifying and standardizing equipment, you may be able to achieve similar results
Investigate equipment issues, too. By simplifying and standardizing equipment, you may be able to achieve similar results
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
with fewer workers or increase your scheduling flexibility. If part of your plan involves having more older workers, make sure that equipment and support materials are comfortable for them to use.
Finally consider some technological solutions to knowledge retention. Artificial intelligence, smart syste
Finally consider some technological solutions to knowledge retention. Artificial intelligence, smart syste
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
s, and Knowledge Management (KM) are appropriate for some larger companies.
Companies of all sizes should look for ways to use technology to help people do a better job of knowledge sharing, learning, and problem solving. Social networking systems can help people find experts. Simple discussion systems
Companies of all sizes should look for ways to use technology to help people do a better job of knowledge sharing, learning, and problem solving. Social networking systems can help people find experts. Simple discussion systems
y and representatives from various regulatory agencies are working out to design the regulatory requirements for manufacture and sale of combination products
can facilitate the sharing of shoptalk and the learning that goes with it.
The blanket that overlays all of this is culture. As you make changes in procedures and in the mix of people and technology in your workplace, you need to pay attention to your culture.
Culture, in the classic Deal and Kennedy d
The blanket that overlays all of this is culture. As you make changes in procedures and in the mix of people and technology in your workplace, you need to pay attention to your culture.
Culture, in the classic Deal and Kennedy d
.
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
efinition, is "the way we do things around here." Culture is the way you think about older workers. Culture is the things you reward and the things you only notice. If you change your workplace and the mix of people in it, you will almost certainly need to change your culture.
In the end you need an in
In the end you need an in
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
egrated system to deal with the threat of massive Baby Boomer retirements and the potential Boomer Brain Drain. You need to assess your situation. You need to use a mix of human resources and business process changes. You need to make judicious use of technology and you must factor culture into the mix
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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