1How Managed Virtual Assistant Services Lower Business’ Costs
According to Glassdoor, the average salary for an executive assistant is $68,000 per year—about $34 per hour. That is just the salary. Typically, a fully loaded full-time employee’s benefits add about 25 percent to that cost to the company. Virtual executive assistants are usually hired on a fractional basis, as SIA noted, from markets where labor is less expensive.
There is also the cost of recruiting, hiring, training, and managing the employees. There is overhead for HR and for executives, assuming each executive oversees their assistants. Some businesses use a Chief of Staff to manage the administrative layer of the company. A managed service requires no HR or management overhead. The provider handles salary, benefits, and performance management.
A managed virtual assistant service starts at about $25 per hour for offshore VAs—included in that are all training, HR, benefits, backup support, and performance management.
Then there is the cost of office space. It costs about $11,000 per year per employee to provide office space. The service provider bears that cost. In the managed service model, the VAs are not independent contractors working from home. They work in secure facilities with company-owned computers and networks.
2How Managed Virtual Assistant Services Deliver Expertise
With a managed virtual assistant service, you do not just get executive assistant expertise from individuals and teams that have supported executives for thousands of hours per year. You also get experienced managers who understand how to build processes and workflows to make the service as efficient as possible. The managers also coach assistants and provide quality control of their work.
This management layer is vital because few businesses have in-house managers equipped to manage executive assistants. Management usually falls to the executives, which becomes another administrative task they do not need. Expert assistance and expert managers make a managed virtual assistant service more efficient and more effective for businesses.
