A Virtual Assistant is a collaborator in your business, they work alongside you and your team, without the added costs of hiring another employee.
You have the help you need, without the costs of an employee, simple as!
A teeny, tiny caveat: you still need to search for and hire a Virtual Assistant. The beauty of outsourcing tasks, projects, or roles, is that the VA will process the contracts and paperwork. All you need to do is get on with the important task of providing your services to your clients and working with your customers.
So how can outsourcing to a Virtual Assistant save you money?
First, grab a pen, as you will want to absorb the following 25 (YES! 25) ways you get to save money.
Before you begin to save money, there will be upfront time and/or financial investment to begin with (unless you are outsourcing that too!) You could begin with an agency (cost) or search yourself (time).
You should begin with your business and online networks. They are invaluable for connecting and referring a quality, professional virtual assistant.
Once you have been introduced to a VA, or you have found one yourself (like checking out happy professionals like me); aside from the top quality professional work we produce, here are the 25 ways you can save money by hiring someone like me:
25 ways you can save money by hiring a virtual assistant
#1 Recruitment Costs / Outsourcing savings
Whether you would normally use a recruitment agency, employee incentives, or someone in HR, the searching, selecting, interviewing, vetting, hiring, and contract processes all demand time, expense, and other resources. How do you find a VA? You ask your trusted peers or connect with professionals within your network.
As well as using recruitment services, you may need to advertise (offline or online, or both) in order to expand your reach. Job sites and agency sites all demand time, expense and other resources.
A Virtual Assistant (or OBM, an Online Business Manager) will provide their own contract to include working terms, hours, agreed fees, packages, etc. and will include procedures for cancellation, holidays, illness, etc. so everything is covered. We often also provide a welcome pack with added pertinent information.
#4 Induction Costs
Most employees need to be introduced to the role, the team, and the company. They need to be brought up to speed on the culture of the company. VAs are hot-wired to explore the culture of each company we work with, and very often work on a short trial basis, rather than 3 or 6-month probationary period. The risk is not as high trying out a new VA as trying out a new full-time or contract employee.
A virtual assistant will generally have their own public and professional liability insurance, depending on their area of expertise, and if they travel to clients’ sites periodically.
#6 Sick Leave and Sick Pay
Unfortunately for us, when we are ill, you don’t pay. We do our work when it suits us unless specific hours are agreed upon. So when we are skiing, we don’t (usually) work. When we are hanging out with family, we don’t (usually) work. When we are sick, we don’t (usually) work. No sick pay!! No in-house doctors or nurses required to certify us as ill. You just don’t pay. This is something every VA will need to address, and make provision for (making sure work is continued in their absence.)
#7 Maternity / Paternity Leave and Pay
Well, if I were to have a baby, I would not cost you both maternity time and pay. Again, like illness and insurance, we as business owners, make provision for our own financial requirements.
Private health insurance is another area in which we look after ourselves. Another cost saving for you!
Ah yes, the future! As a business owner, it is my responsibility to look out for my own future, whether that is when I stop working, or not. Another aspect of living in modern society, and another saving for you!
#10 Legal Costs
From recruitment right through to hiring and firing, disgruntled employees, behavioural and conduct issues, legal cover for employees increases as your team (and risk) increases.
#11 Human Resources
Grievances, recruitment, and salary issues are eliminated. Us VAs look after ourselves. We whine to our spouse (or cat), pick ourselves up, brush ourselves down, and carry on. Salary, overtime, and holiday pay are not part of the language you will share with your VA unless you are discussing an actual employee.
Unless it is agreed or a % of revenue is shared, a VA charges their fee or rate for doing a great job. Referrals are the types of bonuses we like.
#13 Management Costs
As a VA works directly with the business owner or their OBM, other Management levels and costs are not required.
I send you an invoice, you pay the invoice, et voilà! That’s it, job done.
#15 Social Insurance
French social insurance can be as high as 25%. An employer will contribute at least that again when hiring an employee. Ouch! Currently in Ireland (10.75%), UK (12%) and other countries, the social insurance cost is not as high but still ouch!
#16 Holidays / Vacation Time and Pay
This is not my photo above, but it could be if I would hike for 5 hours directly from my home. We tend to have more blue skies here in the Pyrenees 🙂
But of course, we have no holidays, we work 24/7! Well, maybe not that much but we are more available than you may think!
#17 IT equipment & office furniture
Most VAs work in a dedicated office, or space, to allow them to properly create and manage their work. We provide our own equipment and furniture to do our tasks. I am considering a stand-up desk, but I won’t be coming to you with web links of fancy new desks. We look after our own comfort, business, and personal needs with regard to equipment.
Having monthly and yearly reviews with Managers takes both time and money. A VA will need a planning call on a regular basis, to plan and pre-empt work. But a heartfelt “Thank You”, genuine recommendation, or well-placed referral are great reviews for us.
I use my own bathroom. I make my own coffee. I even have my own gym (see image above). I can make my own nibbles for Casual Friday lunch. I have been in many businesses throughout the years who would put the local gym and cinema to shame with the level of facilities they provide their employees. If I need down time, I play with my cat. If I need to move to a creative space, I can work on the terrace. I watch my own TV in my own non-communal living room. Doesn’t cost you a rounded-down cent, or penny.
#20 Health & Safety
I hope your working environment is safe for you. I have to cat-proof mine, especially the printer. Health & Safety policies, procedures, equipment, signs, and other paraphernalia cost money, take up time, and sometimes space, not to mention the actual risk and occurrence of accidents in your workplace. I won’t trip over your welcome mat, or slip on your freshly washed floor (washed by an employee or contractor.)
I know a lot of stuff. I have many qualifications and have attended more training sessions than I care to admit. I do need to constantly learn new tools, depending on my own needs, and those of my clients. I may require training on a bespoke software or systems, but I do this quickly and efficiently. It’s in my blood to be constantly learning new tools, new algorithms, and new processes. I come almost built-in for your business, and will already have many skills and expertise that your business needs, so we can get going from the get go.
#22 CPD and PDP
I know how important continuous professional development is for a professional to progress. I look after my own CPD, and motivate myself with my own personal development planning. I don’t require a meeting or review with a Manager to discuss my personal or professional development, making it easier for you the business owner, and cost saving.
#23 Further Education
Unfortunately (for us), biggies like MBAs or degrees in HR are indeed something we would take on ourselves. Further education is an ongoing cost for businesses with employees, especially long term employees, Managers and Directors. This cost is completely eliminated unless a longer relationship is formed between a business owner and virtual assistant.
#24 Appraisals (yawn!)
I am getting better and better at singing my own praises – you may as well just HIRE ME NOW!
#25 Discipline Procedures
So fire me! With a month’s notice! And consider me disciplined! It won’t cost you unless you actually do something illegal, but that won’t happen anyway. Will it?
A Virtual Assistant is already motivated to do great work
Et voilà, not only do you get top quality work, great results, and peace of mind by working with me, you get to work with a girl who is well travelled (I’ve been around) well versed (I know some stuff) and well seasoned (I won’t cry over spilt milk.)
I will influence you with my happiness and expertise, because I love what I do, and where I do it from. I am already motivated to work with you in such a positive way, you will wonder why karma didn’t have us meet before!
I could have written a stuffy article on how you save money working with me, but that’s not my style. I like fun, and I like having fun while I am working. It’s important we have fun. Together while growing your business. If you are curious, click this link to see how easy it is for us to work together.