When the need arises, companies and businesses are more likely to hire extra staff to do the work in a given time. The recruiter or the owner then comes up with a strategy to take full advantage of the hiring process. After all, not only is it expensive to hire, it comes with certain obligations as well.
The following post will show you how cost effective it can be to hire a virtual assistant versus hiring a full time in-house employee.
What is a Virtual Assistant?
A virtual assistant or VA is an independent contractor who works remotely at home providing administrative, specialized, and technical support. Virtual assistants are generally computer savvy and good in time management.
Who Uses VA Support?
- CEO/President – C-level executives
- Business owners
- Coaches – business, executive, sales, and life
- Real Estate Agents
- Consultants – business, management
- Authors
- Professionals
- Lawyers
- Sales Representatives
- Motivational or Keynote Speakers
- CPA/Accountants/Bookkeeper
Advantages of Hiring a VA versus an Office Employee
Here’s the breakdown of costs:
Office employee working 2080 hours a year @ $15 per hour
Virtual assistant working 520 hours a year (43-44 hrs/month) @ $8.20 per hour*
*Virtual Assistant Talent rate for experienced VA >> rates start at $7.20 – $13/hour (technical VA)
[table width =”100%” style =”table-striped table-bordered table-hover” responsive =”true”] [table_head] [th_column][/th_column] [th_column]Office / In-house Employee[/th_column] [th_column]Home-based / Virtual Assistant [/th_column] [/table_head] [table_body] [table_row] [row_column]Typical Salary per year[/row_column] [row_column]$15/hr x 2080 = $31,200[/row_column] [row_column]$8.20/hr x 520 = $4,264 (vacation, holidays, sick)[/row_column] [/table_row] [table_row] [row_column]Benefits 30%[/row_column] [row_column]$9,360[/row_column] [row_column]$0[/row_column] [/table_row] [table_row] [row_column]Time not worked 13% (vacation, holidays, sick)[/row_column] [row_column]$4,056[/row_column] [row_column]$0[/row_column] [/table_row] [table_row] [row_column]Payroll Taxes 12% [/row_column] [row_column]$3,744[/row_column] [row_column]$0[/row_column] [/table_row] [table_row] [row_column]Administrative Costs 7%
(Recruiting, Hiring, Training) [/row_column] [row_column]$2,184[/row_column] [row_column]$0[/row_column] [/table_row] [table_row] [row_column]Total Cost Per Year[/row_column] [row_column]$50,544[/row_column] [row_column]$4,264[/row_column] [/table_row] [/table_body] [/table] Hiring a VA compared to a full time office employee: Total Annual Savings of $46,280 Click To Tweet The savings you can accumulate year after year can go a long way to expand your business, generate more sales, and upgrade your systems. Keep these things in mind when comparing a full-time employee to a remote worker or VA. Good luck with hiring and taking your business to the next level!
If you need help with hiring experienced virtual assistants, contact us at our main number 1-866-596-9041 (510-400-8006 local). We have client representatives on standby from 8am to 9pm EST to assist you with any questions.
References:
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