What is a Virtual Assistant (VA)?
A Virtual Assistant (VA) is a highly-skilled, independent professional who remotely provides administrative, technical and/or creative business support services.
*Source: The Virtual Assistant Social Network
A VA works from an off-site location. Assignments are communicated via e-mail, chat, Skype, mail, phone or fax.
By using a VA, you only pay for the actual time worked. You also eliminate the expense of providing office space, furniture, equipment, office supplies, and employee benefits thereby saving time and money.
Other titles a Virtual Assistant may go by:
- Virtual Professional (VP)
- Virtual Associate
- Service Provider
- Virtual Business Manager (VBM)
- Personal Assistant (PA)
- Independant Contractor
- Online Business Manager (OBM)
Why use a Virtual Assistant
- A Virtual Assistant is available for you when you need the service.
- There are no employee-related taxes, insurance or benefits to pay.
- A Virtual Assistant can be part-time, full-time, casual or permanent.
- There is no need for extra office space or equipment costs – a VA works from her office, not yours.
- Minimal or no training is required when you use a VA.
- Your only expenses are for time and materials used on your project.
- A Virtual Assistant is tax deductible.
- A VA is committed to the services they provide. If you look good – she looks good.
- A VA is cost effective solution – no need to pay fees to temp agency.
- You only pay for the hours worked or the services provided.
- A Virtual Assistant is not an employee.
How does using a VA save you money?
This Cost Comparison Chart shows you the difference between a Full-time Employee vs a Virtual Assistant Cost Comparison
| COST COMPARISON |
Full-time
Employee |
Virtual
Assistant |
| Hourly Rate of Pay |
$20.00
|
$35.00
|
| Fringe Benefits @ 35% (Health/Dental/Life Insurance, Retirement Plans) |
7.00
|
None
|
| Overhead Rate @ 50% (Office Space, Equipment & Office Supply expense, UI Insurance, Worker’s Compensation, Overtime Pay, Administration Costs) |
$10.00
|
None
|
| Total Effective Rate of Pay |
$37.00
|
$35.00
|
| **Hours Per Year |
2,080 hrs.
|
480 hrs.
|
| TOTAL Annual Labour Cost |
$76,960.00
|
$16,800.00
|
Difference = $60,160.00 per year
By hiring a Virtual Assistant…You SAVE over $60,000.00 per year!
Although the Virtual Assistant’s hourly rate is more than the employee’s rate in the first place, you save the cost of benefits and overhead that would have to be applied to the new employee’s wage. And, because Virtual Assistant’s are usually more experienced, more efficient, and better connected than the employee, you’ll need to devote far less time to the project to get the same results, only 480 hours a year versus 2,080 for the new employee.
**Remember, with a Virtual Assistant, you only pay for the time on task by the minute! No more paying for socializing, hour long lunches or frequent trips to the washroom.
Your employee’s 8 hour day can be crunched into 3-4 hours with a Virtual Assistant.
Simply put, you should contract with a Virtual Assistant because it’s more cost-effective and Virtual Assistants go above and beyond the normal assistant’s duties to impact your own productivity. No task is too big or small for a Virtual Assistant to handle. Even if you only have 1 hour of work a month for a Virtual Assistant to do, a VA can (and will) do it.
*Source: VirtualAssistant Networking Association
