How Hiring a VA Can Save You Money This Year
Keeping your company’s head above water might seem more challenging this year.
The cost of running an effective business is growing increasingly difficult to handle. Not only are you dealing with soaring inflation and rising energy costs, but there’s a looming recession to plan for too.
On top of that, issues like the “Great Recession” are making it tougher to attract and hire the talent you need to keep your venture moving forward. Around 86% of businesses have already had to increase their wages to avoid losing top talent.
With all of that expense to think about, you might assume you simply can’t afford to shell out the extra cash for a Virtual Assistant (VA). However, the reality is, more often than not, a VA can save you more money than you spend.
So, how exactly does that work?
Your Time is Valuable: A VA Helps You Save More of It
First, perhaps the best way a VA can help you to save money, is by giving you back more of your valuable time. Surveys show business leaders spend anywhere up to 21.8 hours each week on low-value activities, like scheduling appointments and answering emails.
Those are hours you could be spending on strategies to bring cash back into your business. Think about the number of times you’ve said no to a project, or turned away a client because you don’t have enough time in your schedule. The money you make from taking control of your schedule can do a lot more than just pay for your new VA – it can also help grow your business.
Virtual Assistants can even handle the tasks that would take hours of training for you to handle on your own. They ensure you can focus on what you do best, without compromising on your company’s potential. A VA isn’t a business expense – it’s an investment.
The Costs of Hiring a VA Compared to an FTE (Full Time Employee)
While the time savings you achieve with a VA can add up to big savings and improvements in your bottom line, there are other financial benefits to hiring a virtual assistant too.
For instance, working with a VA means you can avoid hiring an in-house employee to handle the tasks you just can’t manage yourself. At a glance, the hourly fee for VA assistance might not seem all-that different to paying an FTE (Full-Time Employee). Most VAs do charge more than their in-house counterparts. However, they also negate many of the costs overlooked when hiring an FTE.
Afterall, when you hire a VA, you pay one weekly or monthly price, and that’s it. When you hire a FTE, you pay their salary, as well as:
- Sick pay
- Maternity/Paternity leave
- Holiday pay
- Training costs
- Equipment costs
- Pension contributions
- Office overheads (electricity, gas, broadband)
All of those costs quickly add up, to the point where you could end up paying double the fees for a FTE than you would for a VA accomplishing the same tasks!
Hiring a VA Makes Financial Sense
At first, hiring a Virtual Assistant in a time of recessions and inflation might seem completely unaffordable. However, if choose the right VA, the return on your investment will be much higher than you’d think. Not only do you get to minimise the expenses of a full-time employee, but you also benefit from:
- Increased productivity
- A more efficient business
- More time to focus on making money
- Greater opportunities for growth
- Expertise and custom support
Sometimes, a VA can even do the work of multiple regular employees at once, allowing you to avoid bringing on new staff you don’t really need.
While hiring a VA does come with costs to consider, the rewards far outweigh the expenses.
Contact me today to find out how the right VA can help save you money in difficult times.