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Here's a fact, almost three of four hires disappoint their employers in the first year. Over the years, many of these business owners have referred to these people as "losers."

Before we discuss how to Stop Hiring LOSERS, it's important to understand what

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

a LOSER is. To help define, here's an acronym I've created:

L = Lazy (requires external motivation from your managers)
O = Obtrusive (stands in the way of your peak performance & profits)
S = Selfish (aren't interested in your company's

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

Examples of combination products may in

oals, but their own)
E = Error Prone (constantly make mistakes & just doesn't "get it")
R = Rebel (can't follow your organization's rules, spreads apathy & creates conflict)
S = Simply Shouldn't have been hired in the first place

Now

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

, do we really need an acronym for the word LOSERS? Not really. We all know what they are and who they are. They're the ones that even though they were hired to increase your productivity, profits and make you $$$, they've ended up robbing you of your tim

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

, energy and costing you $$$.

Sure, they may be outgoing, friendly people but you didn't hire them to be your friend. You hired them to make your organization more successful.

Along with causing you stress, headaches and sleepless nights, the losers in yo

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

Combination pro

r company have made it impossible to grow your business. Even though you'd like to be spending your time improving your productivity and increasing your revenues, the average manager spends most of their time babysitting LOSERS.

84% of Employees Cost YOU $

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

$$

Studies have shown, in the average US Organization, only 16% of their staff can be considered TOP Performers. This means 84% are "Average" Employees (comprised of what I refer to as "Workplace Survivors" & Mis-Hires).

Think about it, the only real reas

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

n to hire a new employee is to make you money. Sure, the employee's main responsibilities may include: service your customer, attract new clients, manage a team, recruit candidates, fill orders, answer the phone, drive a truck, etc. When done correctly, yo

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

ur productivity, sales and revenues will increase. But when the employee can't or won't perform as expected, they will hinder your growth.

Why Businesses Stop Growing

According to the SBA, the majority of US Small Businesses grew an average of just 3% las

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

year. Now, when I say majority, I'm not talking about 51%. In this case, "majority" is used to describe over 95% of small business.

Then there are their business counterparts. Companies that not only grew, but doubled, tripled and quadrupled their reven

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

es. And most of them did nothing more than what Jim Collins tells his readers to do in his best selling book Good To Great; "Put the right people, in the right seat, on your bus."

Those that are hindering your growth whether because they don't fit your cul

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

Following aspects would a

ture (reliability, work ethic, etc.), their team (unity, communication, etc.) or the job (natural productivity) must be replaced. Whether you decide to find a position they better fit within your company or let them go and start over, this is a difficult ma

dd to the challenges in developing combination products:

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

agement decision that must be made if you want to grow your business.

5 Ways to Keep LOSERS Off Your Payroll

To grow your business, it's time to stop employing LOSERS. Stop allowing a fraction of your employees to do the job you've hired them to do.

When

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

you're selecting candidates, remember these five ways to Stop Hiring LOSERS:

1. Don't Expect Candidates to Find You
If you're only recruiting "passively" with classified ads, general web boards and employment agencies, you're only going to find "pas

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

ive" job seekers. You need to do everything in your power (network, referrals, educational partnerships, etc.) to "actively" recruit motivated TOP Performers.

2. Believe Only 50% of the Resume
Studies have shown, 95% of resumes contain exaggerations

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

The best thing about a resume is it tells you if the candidate (or their professional resume writer) can use grammar properly, can last more than a few months in a job and has the basic education or training required.

3. Believe Only 50% of the Interview

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

Professional from academic institutions, pharmaceutical industries, health care indust

Your reason for having the interview is to make sure the candidate will fit your culture, team and the job. Their reason for accepting the interview is to be who they need to be and say what they need to say to "sell you" on hiring them.

4. Don't R

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

ly on Your Instincts Alone
Your "gut" has been proven wrong before and it will be proven wrong again. This works both ways. You've surely passed on someone who made a bad first impression that later became a TOP Performer for a competitor. You've al

.

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

so hired the energetic, friendly, punctual candidate that became a drain on your time, energy and cost you a lot of money.

5. Use Pre-Employment "Job Fit" Assessments
If you don't have a 75 percent Hiring Success Rate of TOP Performers, it's time to

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

Companies that provide selfless information through particip

oin the 90's. For over 15 years, most of the Fortune 500 and virtually every Market Leader has kept their use of assessments secret from their competitors. The secret is now out. To hire the right person for the job the first time, use a Job Matching tool

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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The American economy is the growth engine of the industrial world and will continue to be so, as long a steady stream of innovative, divergent products is successfully created. The history of capitalism is replete with cycles of unique, needed advances that exponentially expand the economic base and evolve into completely new industry categories. No country comes close to America in dynamism, creativity and energy in pursuing cutting edge new growth opportunities.

The first article in this five part series of how to realistically set your fees talks about the myth vs reality of calculating your billable hours.

Your resume is your sales letter. It may not get you the job. But it must get you an interview. The resume should be written to arouse the interest of the employer so that you get your appointment for an interview.

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