Stop Losing Money Due To Workforce Expenses!

Remote work is now an integral part of the modern workforce, first introduced by the novel coronavirus but now widely used by many businesses worldwide. Aside from businesses going remote, many have chosen to hire virtual assistants and freelancers to supplement their workforce at a low cost. A Filipino virtual assistant is a popular and cost-effective way for businesses to expand their workforce.

Despite the growing popularity of virtual assistants, many businesses are still hesitant to hire them. Some businesses may see virtual assistants as an additional expense, while many others see them as a cost-effective way to increase personnel. COVID forced many businesses to scale back operations and shift to remote work environments, and virtual assistants assisted businesses in surviving the pandemic. VAs are still useful today, and it has already been demonstrated that they can assist businesses in operating on a shoestring budget, as was the case during the early days of the pandemic.

If a company is hesitant to go remote, it will likely be hesitant to hire virtual assistants to supplement its workforce. Such decisions will cost businesses money, and businesses may be losing money by not having a remote workforce.

Businesses must pay for real estate and utility costs.

When a company does not have a remote workforce, it must pay for real estate, utilities, office furniture, office equipment, and so on to continue working on-site. The average annual cost per employee is approximately $18,000, and going remote and eliminating the need for a physical office will significantly reduce these costs. When going remote, businesses will only need to pay for an employee's salary and benefits; paying for laptops and the necessary tools will also not add too many expenses compared to when they also had to pay for office utilities and cleaning services.

Using virtual assistant services first before hiring full-time employees allows small businesses to save money. Aside from their hourly or per-project wage, virtual assistants do not charge for employee benefits or other costs associated with hiring regular employees. VAs will also come with their tools and equipment, lowering the cost of hiring an employee even further.

Businesses typically spend money on office food.

Employee benefits are typically provided by businesses in the form of food in the break room. Regular office workers will typically enjoy coffee, snacks, and the occasional lunch or dinner. Aside from such advantages, office meetings frequently require snacks, and stocking up on these will cost businesses as the costs accumulate.

Remote workers do not require food because they will purchase it themselves. Small businesses will save money by not having to restock an on-site cafeteria, which they can use for other purposes.

Regular on-site employees are more expensive than virtual assistants.

Neglecting virtual assistants prevents businesses from reaping the benefits of a low-cost workforce. Regular employees are typically more expensive than virtual assistants due to the following expenses:

• -Wage per hour

• -Payment of taxes

• -Employee advantages

• -Leaves for vacation and illness

• -Appropriate tools

• -Training

Virtual assistants, on the other hand, only need to be paid through one of the following methods:

• -Based on the hour

• -According to the project

• -Task by task

• -Using a subscription pla

Individual VAs and freelancers typically charge by the hour or per project, with some offering a set number of services and charging a set amount based on that, rather than the time they work. Using a virtual assistant company in the Philippines will necessitate businesses to pay on a subscription basis.

Aside from not being paid as much as regular employees, virtual assistants are also less expensive because they pay for their expenses, such as equipment and taxes. Businesses will also save money by not having to train VAs as much as regular employees when they hire experienced virtual assistants instead of rookies.

According to a Glassdoor study, the average company spends approximately $4,000 when hiring a new employee due to recruiting teams, background checks, interviews, and onboarding training costs. If a small business has a regular on-site workforce, it can hire virtual assistants as temporary employees to effectively have more employees at a lower cost. Outsourcing work to a virtual assistant will undoubtedly reduce costs, particularly if the VA comes from a reputable VA company.

Many small businesses waste too much time on administrative and repetitive tasks.

Administrative tasks consume far too much time in many small businesses, and hiring full-time employees is prohibitively expensive. Outsourcing tasks to virtual assistants allows small businesses to save money while having their administrative tasks handled by qualified personnel.

Businesses will also have repetitive work that regular employees will dislike, especially if they are diverted from other tasks, primarily core processes. Hiring dependable virtual assistants to do repetitive tasks such as database management, phone calls, interview scheduling, and other repetitive tasks will allow regular employees to focus on more important tasks.

Others will take care of administrative and repetitive tasks, but at a lower cost than hiring full-time employees. Businesses can also hire virtual assistants to handle any potential task backlogs and then let them go once the project is completed.

Takeaways

A remote workforce, whether it consists primarily of regular employees or virtual assistants, is advantageous to businesses. Remote workers can effectively save small business money by lowering operational expenses, and hiring virtual assistants will also lower hiring costs.

Businesses that continue employing on-site workers are losing money and should consider switching to a remote setup. In addition, rather than hiring new employees right away, businesses should consider hiring a virtual assistant first as a more cost-effective option. Virtual assistants can outperform office workers, so hiring VAs should also be considered for this reason.

Elysium Virtual can assist in providing the best virtual assistant services for various businesses. Hire a virtual assistant today and take advantage of one of the most reputable VA companies in the Philippines' high-quality virtual assistant services.

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