Why does a virtual assistant make more sense financially?
As your business grows, you will find yourself in a position where you need help managing all of your tasks and projects. Deciding whether you need to hire a full-time employee or virtual assistant is one of the hardest challenges.
What is a virtual assistant? - A virtual assistant, or group of virtual assistants, work remotely providing specific needs to the entrepreneur or small business owner.
It's become more common in today's cloud-based world for entrepreneurs and small business owners to have at least one VA on their team. Today, VA's will go beyond admin work. It is important to think outside of admin work when it comes to VAs. There are VAs for specific niches such as Coaching, legal work or Real Estate.
What does a VA accomplish for these businesses? Some examples include, SEO, social media management, bookkeeping, calendar management, sales, and even organizing events. The types of tasks VA's can get done efficiently and to standard are virtually endless.......get it, virtually :). To get a better idea of a few tasks that can be completed by your VA visit: https://www.cascadevirtual.com/find-talent.
Cost Comparisons -
If you have a full-time employee there are hard costs. You have healthcare, workers comp, taxes, and office supplies, just to name a few.
Because a VA works remotely, they provide their own “office supplies”. Because they are considered Independent Contractors they take care of their own taxes and expenses.
According to Glassdoor, the average base pay for an in house social media manager alone is roughly $27 per hour at 40 hours a week plus the additional hard costs listed previously. How much is that employee actually costing you?
A VA’s fee can be $35 per hour at 5-10 hours per week or less. You are only responsible to pay for the actual work done and/or the fee agreed upon.
There are times when a business owner will need to hire a full-time employee versus a virtual assistant.......but those times are rare :). Analyzing your needs, all the pros and cons before making a decision might also be a brainstorming activity you would like to spitball with a virtual assistant to ensure you are making the most cost effective and needs based decision for your success.
At Cascade Virtual, we specialize in teams. Build your team with our skilled VAs to grow your business, and/or take away the tedious tasks so you can focus on the important stuff.