Like most business owners, you certainly want to dominate your field.
You’re aching to look for ways to optimize efficiency and get the most out of your time. This is why both small and big businesses are transitioning to virtual assistants to help manage their workload. Virtual assistants can provide several benefits, including freeing up your time to focus on more important tasks, reducing stress levels, and saving money. Additionally, this article illustrates the business statistics why you need a Virtual Assistant (VA) in your business.
What is a Virtual Assistant? Why do you need a Virtual Assistant?
Trained in many fields of company support, a virtual assistant mainly helps with complicated but essential administrative tasks in the business. Evident from the term “virtual” means that they only work online and require no physical space. Hiring virtual assistants can be beneficial in handling customer inquiries and managing social media accounts. Consequently, you can free up your time to focus on more important matters.
Here are 5 business Statistics why you need a VA
Running a business will always be a numbers game. As a professional, you know that time is money. That’s why it’s imperative to find ways to optimize your time and workflow. One way to do that is by hiring a virtual assistant. However, transitioning to remote employees can be overwhelming as it is relatively new to some. But you can stop worrying now! Here are five business statistics you need to know when hiring virtual assistants.
1. Virtual assistants decrease operating costs by 78%.
There are numerous advantages to hiring a Virtual Assistant. Perhaps the most obvious is that it can save you money.
Unlike a traditional employee, a Virtual Assistant does not need benefits or office space. Hiring a virtual assistant removes rent expenses, benefits, and equipment expenses. Since this industry is purely virtual, the additional staff members will consume no space. Hence, you can now rent a smaller office space or better use the existing space to focus on your profession. Overall, operating costs by decreases by 78%. Further, you will no longer deduct from your professional fees to pay for office equipment such as telephones, computers, paper, pens, and other resources requiring petty cash. The virtual assistants already provide all of the office equipment needed to perform these burdensome but necessary tasks.
2. Investing in virtual assistants cuts the attrition by 50%.
When professors from Stanford University conducted a study on remote working, they concluded that opting for online employees cuts the attrition rate in half. Attrition rate pertains to the number of people resigning from the company over a period of time. When your employees are in a remote working space, they are less likely to leave your team. This is why learning the business statistics why you need a VA is crucial to the business.
In the said study done by Stanford University professor Nicholas Bloom and others, they concluded that hiring virtual assistants reduces the attrition rate by half. The study revealed that in a sample size of 249 employees, the workers who participated in the experiment reported being more satisfied with the virtual or work-from-home setup. As a result, the company’s attrition rate decreased by 50%.
The decreased attrition rate is more favorable to the business as it will drop its hiring and onboarding expenses. Employers will save hard-earned funds instead of allocating them to resources needed to train a new hire and allow new employees to adjust to the work. When employees stay at a job longer, the money spent on advertising the position as well as training costs lowers.
3. Virtual Assistants increase productivity by 13%.
In today’s competitive business landscape, finding ways to boost productivity is more important than ever. This is why you need a virtual assistant, as they are valuable in increasing productivity. More specifically, VAs raise productivity by 13%.
Through delegating tasks to a virtual assistant, you can free up your time to focus on more critical aspects of your business. Through hiring more virtual assistants, doing the work you genuinely love is now prioritized. You will no longer focus on the intricate but essential parts of the business, such as scheduling clients, communicating with other clients, answering and filtering calls, sorting out office files, and many more. Letting go of these extra burdens and delegating them to trained assistants opens the gate for a more focused professional.
In addition, a virtual assistant can often complete tasks more quickly and efficiently than you could yourself. This is because they have the skills and experience to do the job correctly. Virtual assistants can also help improve your organization and keep you on track by managing your schedule and reminding you of deadlines.
Evidently, there are many ways in which a virtual assistant can be valuable in increasing productivity. Hiring a virtual assistant is worth considering if you are looking for ways to boost your business.
4. Delegating to VAs promotes flexibility.
Hiring a virtual assistant is flexible for the business. You can choose the number of hours you need help, and you can scale up or down as your business needs change. You may also opt to hire them for short-term or long-term projects. This can be helpful if you have a busy and unpredictable business schedule.
It also opens your resources to a broader pool of talent. You are not limited to hiring someone who lives in your area or even in your country. This is extremely helpful if you need expertise that’s not readily available locally. A virtual assistant can work on a variety of tasks. This can be helpful if you need someone to help with research, customer service, or even scheduling.
5. Choosing VAs lessens work-related stress.
Undoubtedly, hiring a virtual assistant can be a huge help in reducing stress levels. With someone else to handle essential tasks and responsibilities, you can free up your time to focus on other things.
In addition, a virtual assistant can help take care of the little details that can often add to big headaches. By hiring a professional to handle these things, you can avoid the added stress of trying to do everything yourself. In short, hiring a virtual assistant can be a great way to reduce your stress levels and give yourself some much-needed breathing room. This is crucial nowadays as demands and prices rise exponentially.
Taking your business to the next level.
The mentioned business statistics why you need a VA proves that they can take your business to the next level. They are invaluable assets for entrepreneurs and small businesses who want to focus on their core profession and raise their profits. If you’re not using virtual assistants, you’re missing out on a valuable opportunity to improve the overall performance of your business.
Are you ready to level up? Core Virtual Solutions industry experts are here to help you get there! We offer free no-commitment consultation to match you with your future virtual assistants. Contact us today by clicking here.
