Weight your benefits

 

Sometimes what you save up front ends up adding up to a lot in the end.
 

With many things to take into consideration when deciding between and employee or a virtual assistant, it's tempting to save the money up front with an employee. However, soon enough the 'hidden costs' of an employee will appear. No need to worry about that with VA's, their hourly rate includes everything that you are responsible for.


 

 

 

Virtual Assistance Benefits

There are numerous benefits when hiring a Virtual Assistant. Even more benefits when you hire a team of VA's to assist you.

Cost Training Risk
Management Office Space Focus
Equipment Flexibility Attitude
Taxes Vacation/Sick Time Relationship

Cost Comparison - VA vs. Employee

 

You Get a Team

With VBP, you have one point of contact but a team at your fingerprints. All team members have been VA's for over 6 years, myself having over 8.5 years in the field. Our team is designed in such a way to eliminate any down time due to illness, vacations or unexpected deadlines. Image all of our expertise, with well over 50+ years of combined experience, just an email or phone call away!

 

Cost -

Due to breaks, insurance, vacation & sick pay, HR experts have proven that an employee will cost 2 to 2.5 times their salaries. Meanwhile, VAs are independent contractors so the client is never responsible for vacations, insurance or taxes. Furthermore, a VA only charges for actual time spent on a task, whereas an employee often times stops to take short breaks

or chat with fellow employees.                                                            [↑]


 

Training -

Often requiring training when hired, a VA is hired to handle the particular tasks, services and needs that the client has. This saves both money and time.

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Risk -

After providing valuable training and having access to company information, on-site employees can easily become your competition. VA's, being located outside of your area, are no threat to becoming your competition.

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Management -

Due to the range of duties that on-site employees are responsible for, on going management is crucial so that nothing is forgotten and all tasks are being completed as needed. A VA requires very little, if any, management because they are specialized in completing the tasks for which they are assigned.

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Office Space -

Employees require their own office space, not only costing you money, but also making it more difficult for those that also work from their home or remote office. VA's require no office space or equipment of any sort from their clients.

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Focus -

Being easily distracted by all of the various factors of an office, employees are often distracted and can become a source of distraction. Meanwhile VA's, being in their own quiet environment, can concentrate on their task at hand. This makes a VA more effective and efficient, saving you time and money.

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Equipment  -

Employees require that you provide them equipment to work on, such as their desk, telephone lines, computer, and many other items. This can prove to be quite costly when setting up a new employee.

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Flexibility -

Employees are assigned a work schedule of a minimum amount of hours per week, making it difficult and costly for some agents to be able to afford having an assistant. VA's often work with no minimum hourly requirements and can be reached often outside of regular business hours.

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Attitude -

An employee often times just wants to show up, complete their hours and go home. There is little incentive to do more since they still receive their paycheck. A VA is an independent contractor and just like their clients, they understand what it takes to run a successful business. Even more importantly, a VA is not successful if their clients aren't, making it crucial to the VA that their clients succeed.

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Taxes -

With employees, you are responsible for paying employer social security taxes. You are also required to collect and pay FICA taxes. There are also federal and state unemployment taxes, along with workman's compensation payments. Not only is there additional fees associate with all of these, but the time to track and ensure that they are paid on a timely matter. With virtual assistants, since they are contracted, they pay their own taxes and alleviate the client's responsibility for such extra costs.

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Vacation or Sick Time -

Employees are customarily given vacation and sick time by their employers. This not only cost the employer financially, but also usually is a cause for concern regarding project management, emergencies, etc. With a team of VA's working for you, you do not pay for vacation or sick time. In addition, there's always a VA available to step in and handle whatever project or emergency you may have.

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Relationship -

When working with a Virtual Assistant, you build rapport and an understanding, not just of the individuals involved, but of the business. They are business-minded professionals, just like the clients they assist. Their goal is to make your business successful, so theirs can be as well. Employees usually lack in this motivation.

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Cost Comparison - VA vs. Employee

Cost Comparison

Full-time

Employee

Virtual

Assistant

Hourly rate $20.00 $35.00 **
Fringe benefits - calculated at 35% for health, dental, & life insurance; retirement plans, etc. $  7.00  None
Overhead expenses - calculated at 50% for office space, equipment, office supplies, Workers Comp, Taxes, vacation/sick pay, administrative costs, etc. $10.00  None
Total effective pay $37.00  $35.00
Hours per year ** view explanation here 2080 hrs 480 hrs
TOTAL ANNUAL LABOR COSTS $76,960 $16,800

 

The difference is $60,160.00 per year!

How would you like to save this much annual PLUS getting dependable assistance?

 

** Hours per year - with a VA, you only pay for the exact time that it takes to complete a task. No more paying for socializing, breaks, or trips to the bathroom!

 

An employees' 8 hour day can easily be reduced to 3-4 hours for a VA.
 

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View our Directory of Virtual Assistant Services


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