It’s no secret that hiring personal assistants is something that most business owners, CEOs, and other high-ranking personnel think about quite often. After all, the number of things that need to get done that are time-consuming and which take a lot of expertise is quite high and thus is often becomes much more valuable and cost-efficient to hire a third party to do this. Nonetheless, with the rise of online work and especially working from home becoming increasingly popular, personal assistants have taken the side and have given way to virtual assistants. This article will be taking a look at the various ways in which virtual assistants are a better choice for a business in terms of costs. More specifically, we will be looking at how much virtual assistants cost and how much trouble you’ll be saving yourself by hiring a virtual assistant rather than a personal assistant.
A Few Words Before We Begin…
One of the main points to make here is that personal assistants are great at their job and overall great people. Of course, this article is not meant to downplay anyone’s job, nor is it being written to convince you to sack your personal assistant. All in all, I am simply showing you the cost-effective aspect of trying out a virtual assistant in the future.
One of the greatest aspects of working with a virtual assistant is the flexibility that you allow yourself to enjoy. For example, your Virtual Assistant has experience in a certain field and thus knows exactly when he or she should be getting a certain task done and when other tasks do not need to be worked on just yet.
n simply sitting at their desk fidgeting or wondering what to work on, your virtual assistant is making full use of the time you are paying them as they are being paid hourly. Thus, instead of paying someone on a full-time basis, having to offer them benefits, sick pay, and so on, you can work with a virtual assistant and significantly cut down on the costs.
Let’s Take A Look At An Example…
The average salary in the UK for a PA in 2020 is £25568. Your PA works a standard 37 hour week for which as the employer you will pay employer tax, and National Insurance of £1997 gets a minimum 3% pension (£767.04).
Total so far £27567
Remember 4 weeks holiday pay and factor in 1 week sick pay, £2458.
Training time will also be required, new equipment like computer, software, desk, chair and insurance c£2,000.
In comparison, a VA gets paid just for the hours they are needed. The average VA gets £25 per hour. A standard packaged hourly bundle is 20 hours per month. £500 per month. Virtual assistants do not require you to pay their taxes, holidays, pensions, and so on. Instead, virtual assistants are responsible for their own schedules, and thus they are able to take care of this aspect on their own which is a relief for you and for your business’ budget. Moreover, virtual assistants do not work on a full-time basis in most cases. In fact, in the majority of cases, virtual assistants work on a project-by-project basis.
Sick pay= 0
Holiday pay for 4 weeks= 0
Equipment = 0
Tax = 0
National insurance = 0
Training = 0 – though depending on your systems there may be a small element of time required
Pension = 0
Insurance = 0
Total (assuming 4 weeks holiday) £5500
Not only are virtual assistants cheaper to hire as they are paid hourly and require very few benefits or extra costs, but they work from home or from their own virtual location. Therefore, you are not required to provide them with an office space or with HR support, training, and so on. Thus, it is much more cost-effective. But, don’t take my word for it, just look at the math. Virtual assistants will make, on average, around £25 per hour.
Hopefully, this is a good visual representation of why working with a virtual assistant may be a great idea for your business! On that note, contact me here for more information on this.
See also https://virtualassistantservice.co.uk/what-is-a-virtual-assistant/