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Referrals have worked wonders for many companies. Your staff is actually your best resource for finding new employees and can save you thousands of dollars in recruiting or other fees. The best way to encourage employee referrals is through a formal Referral Program which might include bonuses, cash awards, gifts, trips, etc.

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What type of award?

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

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Monetary awards are believed to be the most effective and are usually paid after the new hire completes a certain number of days. This should be based on turnover in the particular industry or position.

Many companies have bonus offers for employee referrals that provide little results because the program is not communicated to their employees effecti

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

Examples of combination products may in

vely. Ask for referrals up front, and keep asking.

Some professionals have a high salary or a substantial bonus plan. For these employees, money might not be the most attracting thing. Make sure to adapt the referral packages depending on your employee’s age, gender etc..You might consider vacation or time off instead of money.

While compensation is a great reason for referrals, r

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

emember, people refer others typically for one of 3 reasons and the least important of the 3 is cash. Number 1, they have a friend or colleague that they want to help. Number 2, they love their company and want to find the best talent to help make it successful. Number 3, they get some type of reward or compensation for making referrals.

Recognition can also be very successful. A v

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

ery successful program may have nothing to so with cash if promoted correctly, for example one I have heard about didn't give a dime for referrals but instead granted a little icon that was placed next to the persons corporate email address and was based on their number of referrals. It became extremely competitive and was all about bragging rights. It cost the company basically not

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

Combination pro

ing and can work for years.

The other downfall to assuming "cash is king" is the quality of the referrals you may receive. Typically when you throw out a big dollar bonus program you will get a spike in referrals, many of which are of dubious quality. Yet if you don't follow up with those people and treat them all in a consistent professional manner then you risk alienating the p

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

eople that make referrals without the cash in mind. Some people actually feel strange about getting a cash bonus for helping out a friend as well.

I'm not saying you shouldn't offer cash bonuses but they are far from a panacea, cool gifts (possibly with the company logo) or contests often work better if you have budget to spend. When you just hand out cash and it gets bigger and bi

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

gger in amount you can also put yourself in awkward situations because inevitably a higher level referral is worth more than a lower level so then you are forced to choose between a tiered bonus system or inequity. It also makes it awkward if you have to discontinue the bonuses for whatever reason, people could hold on to referrals until the bonuses come back or they could feel sl

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

ighted because they made a referral that was hired a few weeks before the program was instituted.

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Promoting the Plan
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Once you've got a plan in place, you need to make sure you're promoting the idea. Develop a written plan to promote your program on a regular basis and mention the current positions by greatest need at that time.

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

You may also consider increasing the award depending on age of the opening or importance to the company. Ask for referrals on your company intranet, blast emails, paycheck stuffers, posting a notice in the kitchen/cafeteria, or employee lounge.etc. The point is that you keep asking. Additionally, collateral material should be created for handouts to new employees.

All Managers sho

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

ld be charged with the responsibility of communicating the plan and current needs on a monthly basis and high level executives should be charged with getting monthly feedback from the managers. Care should be taken that efforts are not limited to the employees direct department.

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Communication
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Make sure your staff understands yo

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

Following aspects would a

ur program with a brief explanation of how it works each time its promoted.

One of the most important things is promptly communicating back to employees about the resumes A quick response will encourage the employee to make referrals in the future. Once they try the process and are turned off, it will be very unlikely they will try again.

It can also hurt morale if an employee bel

dd to the challenges in developing combination products:

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

ieves they are entitled to a bonus that they don't get.

Keep your company's decision making process transparent and keep your managers working, coaching and giving feedback. Combine that with a basic, transparent incentive program and the referrals will come.

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Managing Your Program
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It is also critical to

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

make sure there is someone in the organization that "owns" referrals. If they simply go into a pile and someone is assigned to handle them as a second priority, you will lose good referrals and likely discourage employees from referring more candidates. Assign the work in whole or part as job duties to manage and process the referrals and advocate them throughout the organization.

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

This becomes more important as a company grows in size.

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Is a Referral Program Worth Your Time?
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A healthy work environment and a motivated workforce is key if you want your employees to help attract people. When your employees are motivated and speak positively about their job, people in you

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

employees' network will ask to be referred. On the other hand, it is going to be tough for an employee to try to bring someone in if the person does not believe in the company and is unmotivated.

Employees need to relate to the company that they are working for and need to feel proud about their current association. Most important, they should feel that company is fair in all resp

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

Professional from academic institutions, pharmaceutical industries, health care indust

ects, whether its with their customer, employees or other stake holders. They need to believe that they are being compensated fairly and treated right. If you are the HR manager and dont believe this or sense a majority of employees dont believe this, start your referral program later and start improving on areas that will change these perceptions.

Focus on the following:

1. Pro

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

motion & Communication: Frequent and transparent communication of the referral program.. Events or Mailers or Posters to make sure that every employee is aware of the program and is constantly reminded.

2. Award Benefits: Referral benefits need not be in terms of cash or money only. Awards can be gifts, package tours, dinner programs, etc.. Always make sure the employee receives re

.

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

cognition for their contribution. Create a 'feel good' factor.

3. Program Management & Process Timelines: Make sure the process of handling the entire program is very transparent and timelines are being followed at each level with the highest priority. Process transparency are key for trust and involvement from your employees. Make sure someone is designated to handle each piec

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

Companies that provide selfless information through particip

e of the process.

4. Management Participation: Executives and Managers are key for any referral program. Without them playing their part, the program will fail.

Lastly, but should come before any program is implemented is...

5. Work Culture: Employees should feel proud to be part of the company. Satisfied employees will refer persons they know and unsatisfied employees will not

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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