You can save up to $60K a year by hiring a VA.
In this era of technology, businesses and companies are usually seeking VA who can fulfill their job responsibilities, stay passionate, not be too heavy on the pocket, and pretty much be a jack of all trades. However, the majority of them fail to find such an awesome and productive employee. Companies hire recruiting managers with massive salaries to recruit other key players in the industry, and those people quote even bigger numbers in terms of salaries. Alongside, further expenses for these employees include travel allowances, insurance policies, and a great workplace interior. A major pain point is hiring additional staff for administration, cafeteria, cleaning, IT maintenance, security, and training providers to help those key players adapt to new technologies in the market. All of these expenses are the ones that come along with hiring on-site employees.
Except, of course, if you have a gold mine or have found a lost treasure, you need not worry then.
Ever wondered what the next vital step could be to reverse your business towards excellence and still have limited expenses and affordable employees? Here’s an easy solution! Read the rest of the blog below to discover the true potential of hiring a virtual assistant. Also, how you can save up to $60K a year and skyrocket your business to the next level of excellence.
Why Are VA Considered to Be So Valuable?
An on-site company is the traditional way of operating a business. However, especially after COVID-19, the majority of the people adapted to a new work lifestyle, i.e., the remote work model. In this model, all channels of communication, administration, monitoring performance, and delivery of projects are done online. This led to the revolutionary outbreak of highly demanded virtual assistant services. Which gained fame due to their cost-effectiveness and booming productivity.
The Profitable Benefits of Hiring a VA
Below are the reasons why you should hire a VA:
- Save on overhead expenses.
An on-site employee requires a well-structured work space, efficient tools and gadgets, including the latest software and computers, and also a reliable internet service. Furthermore, additional employee taxes, medical insurance for an employee and their parents, annual or sick leave, and free lunches. Even after all these benefits and consistent training, retaining employees and their continuous productivity cannot be promised.
However, a VA is a self-employed and independent person, who is skilled in their craft and prefers to work from the comfort of their homes. Moreover, they bear all additional expenses, including proper internet, buying software and necessary tools required for the job. A VA usually believes in being a self-taught learner and so does not require any excessive training.
Hours worked are equal to hours paid.
VA’s are paid on an hourly basis and, according to the U.S. Bureau of Labor Statistics (BLS), an on-site employee with their salary is 29% more costly due to additional benefits. So, all the services a VA would be providing can be paid on a weekly or per project basis.
Businesses that are faced with issues or low work seasons do not need to pay for full-time employees. They only have to pay for the hours a virtual assistant has worked on and can be decided as per the work flow.
Flexibility Makes A Virtual Assistant An Ideal Choice
Companies running global operations or clients from different time zones can be accommodated by a VA due to their availability in the specified time zone. The fluidity in working hours can maximize the productivity of a business. With the possibility of managing last-minute requests and revisions. An on-site employee prefers to work during the general 9 to 5 hour job and does not like to work outside their shift timings.
Flexibility can also be found in terms of skills. Usually, a VA is multi-talented and can handle various operations and tasks. Comparatively, an on-site employee is focused on a specific skill set and for each skill, a different employee needs to be hired. Hence, hiring a VA can be the best decision you might ever make for the growth of your business.
Turnover can be a major drawback.
On-site employee turnover can be equivalent to money down the drain. It is because, in order to find a replacement, it could cost around 33% of the employee’s salary. We have all heard, “Time is Money,” but how is that true?
A turnover or termination of an employee could mean excessive hours spent interviewing other candidates, background checks, finalizing offers and training newcomers. During this whole process, the productivity of the company declines and barely any progress is made, meaning major monetary losses. However, if a virtual assistant is to be replaced, they stop providing services to you. You do not have to pay anything extra. The productivity may suffer temporarily, but it can be restored in a matter of days. As soon as a new employee is hired, with no lengthy hiring process to contend with.
The secret ingredient to the recipe of any successful business is centered on increasing profits without compromising work ethics, average salaries, or overall work environment. However, maintaining all these aspects can be a challenging and daunting experience for many businesses. Especially startups and small-to mid-sized companies. Hence, a virtual assistant can be a great resource which could ensure the growth and success of a company through their professional, multi-skilled, and flexible approach.
You can take the next step towards success by hiring a VA!
To sum it up, let me write a simple equation for you to understand and brainstorm the overall concept of this blog, below:
Virtual Assistants = Monetary Savings + Time Efficiency + Productivity