The Costs of Hiring a Virtual Assistant vs. an In-House Employee Virtual assistance is an industry that saw exponential growth in recent years. Companies that want to minimize costs and those looking to streamline administrative functions are its main market. Because virtual assistants work on a per-project or contractual basis, they are only paid for the number of work hours rendered. This is ideal because it is less costly than the typical salary for a full-time personal or inhouse assistant. Companies save a huge amount, yes, but many fail to realize how they really save by hiring a virtual assistant instead of an in-house employee.
Just Compensation on the Part of the Employer There is enough research to verify that information gathered regarding the brutal truth about workplace laziness is true. Many employees across the globe admit that they waste about 3 hours for every 8-hour workday. Many say that distractions within the office are easy to give in to – some of the most common ones include web surfing, socializing with co-workers, spacing out, and even applying for other jobs. Many employers pay workers who only waste time because of these distractions.
No Fringe Benefits Through the hiring virtual assistants, companies do not pay for a standard number of hours per week. Instead, the owner can just pay the assistant for the number of actual hours rendered for getting tasks done. A virtual assistant costs more per hour, but those based in countries like the Philippines and India usually charge less. Hiring an in-house employee is less expensive than hiring a virtual assistant in terms of hourly pay, but companies have to provide fringe benefits to the in-house staff, including health insurance and retirement plans. When all is summed up, there is no doubt that keeping an in-house employee on a payroll costs so much more than a VA.
Reduced Overhead Costs Companies reduce overhead costs when hiring a virtual assistant. When hiring an in-house employee, business owners have to pay for the office space, additional equipment, additional office supplies, and even overtime pay.
Generally, employers save a huge amount when hiring a virtual assistant. They pay for tasks by the minute or by the hour, and do not have to pay for hour-long lunches, regular trips to the bathroom, and frequent socializing among employees.
Resources: http://money.msn.com/investing/are-american-workers-getting-lazy-mirhaydari.aspx http://goodmenproject.com/newsroom/working-hard-or-%E2%80%A6/ http://www.365virtualassistant.com/