Subjects - Business

They’re young, audacious, hip, and nimble. They may show up to work late – or not all. They don’t respect authority simply because a boss has “paid her due

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

s” or has a fancy title. Respect for authority has to be earned. They are also smart, technically savvy and will easily adapt to change.

Generation Y is i

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

Examples of combination products may in

the workforce and making waves. Many supervisors and managers are already pulling their hair out trying to figure Yers out. To be effective (and to remain

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

sane) every manager and supervisor must be able to wrap their mind around how Generation Y thinks, what they expect, and what they need.

How can managers

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

ore effectively manage and motivate Yers? Right here Myra Golden offers hardhitting answers to the top 7 questions about managing Generation Y.

1. Who

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

Combination pro

is Generation Y?

There is no consensus over the exact time frame of Gen Y. Some experts assert that Generation Y was born as early as 1977; while ot

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

ers say they were born as late as 1980. A good range is 1980 – 2000.

2. What’s the single biggest mistake managers make with Generation Y workers?
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
>

If you manage Yers, this will come as no shock to you: Generation Yers don’t respond well to authoritarian leadership styles. If you really want a figh
nation products and maximize the revenues. But the companies involved in this practice are overlooking that they are burdening the patients both economically
on your hands, just dictate to your younger workers "They've grown up questioning their parents, and now they're questioning their employers. They don't k
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
now how to shut up, which is great, but that's aggravating to the 50-year-old manager who says, 'Do it and do it now.' " says Jordan Kaplan, an associate m
ts. Some of the combination products were well accepted by physicians while others suffered. Companies involved in development of combination products are fi
nagerial science professor at Long Island University-Brooklyn in New York.

3. How many Generation Y workers are currently in the workforce?

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

Following aspects would a
ation Y has grown from 14% of the workforce to 21% over the past four years to nearly 23 million workers.

4. Should employers expect high turnover wit
dd to the challenges in developing combination products:

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

The short answer is yes. Much like Generation X, Generation Yers don’t expect to stay in a job, or even a career, too long. They are s
cts are meaningful and rational?
Which therapeutic categories to select?
Which Combinations can address unmet needs of the patients?
Do combin
avvy multi-taskers, accustomed to change, juggling multiple tasks, and priorities.

5. How do Generation Y workers like to receive feedback from a supe
tions increase the patient compliance?
What would be the developing cost?
How to tackle the risks encountered during combination product developmen
visor or manager?

Generation Y wants and expects feedback – both praise and constructive- often. An annual or quarterly review simply won’t work for
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
he generation that is used having everything instantly. Give Yers feedback whenever you can…on the elevator, via email, on-the-spot. They’ll love you for t
ping new procedures for reviewing their safety, efficacy and quality.

Professional from academic institutions, pharmaceutical industries, health care indust
is type of feedback.

6. How can we keep Generation Y motivated?

Yers thrive in a muti-task environment. They are brilliant multi-taskers and see
y and representatives from various regulatory agencies are working out to design the regulatory requirements for manufacture and sale of combination products
k ever-changing tasks. Keep multiple tasks and tight deadlines in front of them and you will be surrounded by a motivated group of young Yers.

7. How
.

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
mportant is flexibility with Generation Y?

EXTREMELY!!! Yers grew up in flexible times and as adolescents they had a lot of say over their world. The
elopment. They need to be wiser in analyzing the market trends and the regulatory requirements.

Companies that provide selfless information through particip
want say in everything from benefits to scheduling to the option of telecommuting. Generation Y expects work to accommodate their personal and family life

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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Subjects - Seven Questions About... Generation Y

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