Like a broken record, we’ve been continually selling the gospel truth that, “Yes, you can save money with a virtual assistant.”
A virtual assistant is an asset on so many levels. But there’s no beating the wonder it brings to your financial sheets. After all, isn’t making a profit what every organization and entrepreneur strives for?
Because they work so differently from regular in-house employees, not needing office space or equipment, virtual assistants are the highly economical alternative to full-time employees, perfect for running a cost-effective business venture.
So here, we’ll tackle what a virtual assistant is and how much you can save with a VA in your corner. We’ll cover these questions and more, and hopefully, by the end of this article, you’ll figure out if it’s really worth the hire.
As the name implies, a virtual assistant is a contractual virtual worker who offers a wide range of services from marketing and bookkeeping to graphic design.
Here are some of the most popular types of virtual assistants in the market today.
Simple answer: YES!
However, if you want concrete proof of this claim, it’s much better to point out the advantages of working with one.
So, what are the benefits of using a virtual assistant?
Well, there’s quite a list actually, but we’re only breaking down the important ones below.
Time lost can never be found again.
That’s why if you’re a business owner, you should know what tasks are the best use of your time.
With a virtual assistant onboard, you can maximize your most important resource.
Your VA will handle the repetitive administrative activities while you focus on strategizing and leading your company to opportunities and growth.
Giving employees the choice to work from anywhere has a massive impact on their well-being.
So, by opening up your company to a virtual assistant you’re easily accessing that same benefit.
Since VAs usually work from home or any place, they find most comfortable, they experience greater satisfaction as opposed to in-house employees.
Because they can maintain a work-life balance, they’re more driven and thus, have the potential to transform positively the work culture of your firm.
Is hiring someone from across the globe beneficial?
Take this scenario for example, you need a receptionist ASAP, tendency is, that employment is pretty limited around the area of your office, within commuting distance.
But because you’re desperate to hire, you end up working with someone unsuitable for the job.
However, if you decide to work with a virtual receptionist instead, you have access to freelance workers hailing from around the world, unrestrained by geographical limitations.
And the great news is, with a pool of talent widespread under your fingertips, you’re most likely to find the perfect person for the role.
Unlike employees who go out every morning to a physical office, virtual assistants mostly stay at home to fulfill their duties.
On top of that, they also get to choose when to do the work, which is usually timed at the peak of their productivity.
Because of this immense flexibility, a virtual assistant can maintain a balance between work and family life.
When workers are satisfied and valued, they are more engaged in their work which translates to increased productivity.
This is according to the survey from the Corporate Execute Board stating that people who have work-life balance work 21% harder than those who don’t. And as Gallup reports, employees who are more engaged are 28% more productive.
Last but certainly not least, the biggest reason why hiring a virtual assistant is your best next move yet, is how it can save you tons of money.
Yes, it’s a lot cheaper to hire a virtual assistant than a traditional office employee.
Why?
Because the financial obligations of hiring a virtual assistant are not as deep as your in-house hire.
With VAs, everything is much simpler.
Here are all the amazing ways you can save money with a virtual assistant:
When you’re renting an office space, you also pay for the furnishing and the utility bills.
You can save money with a virtual assistant because you can smoothly run your business operation without it.
Apart from online collaboration tools that you might pay for, you don’t need to purchase any other office equipment which can reduce operating costs significantly.
The computer which is the most important material for this virtual collaboration is taken care of by your virtual assistant.
In a usual setting, whenever a new employee is hired, spending on training is an incorporated cost.
However, if you work with a skilled and experienced virtual assistant, you can save time and money spent on those exercises and have those resources used for something else instead.
Virtual assistants don’t enjoy overtime payments. It figures because you only pay them for the specific hours they work.
With a virtual assistant, you need not worry Services the extras; health insurance, leave pay, retirement fees, compensation insurance or whatever amenities traditional workers enjoy.
When you delegate your most time-consuming tasks, you’re saving precious hours which you can use doing core activities.
You can save money with a virtual assistant by using your time, concentrating on the essentials like finding important connections and strategizing instead of answering calls and clearing up your inbox.
Virtual assistants work on an “as needed” basis, meaning you’re only paying for the actual work done.
If the business is slow or your worker is on leave, you don’t need to pay them.
This reduces cost and increases productivity all at the same time.
Because you’re doing things remotely, you can hire a virtual assistant and have access to limitless talent from across the globe with highly economical pricing packages.
In short, you get to save money and have quality outputs at once.
Virtual assistants are trained professionals who can easily streamline your operations, no problem.
And with the help of online collaboration tools, you won’t have a problem checking up on their work.
Thus, you can save time and money with shorter meetings and less-to-no training.
On average, a company spends around $4000 for an onsite hire. This is just in the hiring process alone which includes recruitment, onboarding and training. Then, depending on how many hires you can do in a year, you can multiply that number by 3 or 4 times more.
With regard to office supplies, companies with 40 employees spend between $45 to $53 per month. Of course, that figure still depends on what industry you are in.
Well, it doesn’t stop there, because the cost of office space is even more expensive.
According to the research done by workplace consultant Albintra, the average annual cost for a workstation is approximately $18,000.
Now, imagine stacking up more than 10 workstations. It adds up really fast, does it?
And we haven’t even mentioned the cost of benefits which accounts for Services 32% of employer cost of compensation in the U.S.
But all these could be erased in a snap if you decide to work with a virtual assistant.
As it turns out, without the added benefits, office equipment, rent and all the essential expenses that you need to maintain when hiring a traditional employee, you can reduce operating costs by a whopping 78%.
fact, in the U.S. a study showed that a business could chalk up $11,000 in cost savings by collaborating with a virtual assistant.
That’s a lot of money that you can use for other projects to help promote your brand.
Nowadays, virtual assistants are bringing up the rear as one of the most cost-effective ways of doing business.
So, if you want to indulge in saving up and earning money consequently while having the time to concentrate on things that excite you, then it’s time to embrace the new norm of working with one.
