The ROI of Virtual Assistants: How to Maximize Productivity
Do you often start your day buried under emails, schedule planning, and to-do lists? Then, after what feels like only an hour, you realize it's already midday, and you haven't even reviewed the upcoming marketing campaigns pending approval or met with your CFO.??
If you're like many leaders without a virtual assistant (VA), mornings filled with tedious admin tasks are a regular challenge. Instead of focusing on high-value tasks, you spend most of your day bogged down in routine work.??
These time-consuming tasks consume so much of your week that by the time you’ve finished them, your work-life balance is gone. Hello, 60-hour workweek!??
You’ve probably heard that VAs can be a great investment for business leaders looking to scale. But you might have concerns that hiring, onboarding, and delegating takes up even more time.??
So, what’s the solution???
Read on to learn how a managed virtual assistant can be the best investment for your business and how it can deliver ROI at multiple stages.??
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What is ROI in the context of virtual assistants??
Return on investment (ROI) is the amount of profit or benefit you gain from an investment compared to its cost. When we discuss ROI in the context of virtual assistants, we're comparing the value they bring to your business to the money you spend on them.??
A virtual assistant is an individual who provides various services to entrepreneurs, managers, and leaders from a remote location.???
Since they work online, they’re called “virtual” assistants.???
?VAs can handle a range of tasks, from administrative duties to customer support, freeing up your time for more strategic work.?
By using a virtual assistant, you and your team will achieve more without the higher costs associated with hiring full-time staff. The ROI here is not only saving money but also boosting your team’s productivity and efficiency.???
In short, virtual assistants' ROI is in cost savings, increased productivity, and improved focus on core business activities.???
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How can virtual assistant services maximize ROI???
Most entrepreneurs, business leaders, and managers find they need some support with repetitive tasks. But, as you grow your business, you may not want to hire a full-time employee or executive assistant to handle these time-consuming tasks.???
To keep overhead costs low and continue scaling, it’s cost-effective to outsource tasks to a virtual assistant.???
VAs can help business leaders with a variety of tasks, including:???
Offloading tasks to a VA helps optimize your business's use of resources. They help you save time, reduce costs, and increase productivity, allowing your team to focus on what really matters.????
Another bonus of outsourcing to managed virtual assistant services is you can scale your support up or down as your needs change. So, when you know you’ll need extra support in busy periods of the year, you can organize extra help.???
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Time ROI of virtual assistants?
Imagine how much time you could save by not sifting through emails or managing your calendar. If you’re anything like the heaviest email users, you may spend over eight hours a week on email. Now add to that all the other repetitive?admin tasks ?you have to complete, too.????
According to a 2023 LinkedIn survey,?many business owners are wasting more than 300 hours per year on admin tasks .
One of the biggest benefits of virtual assistants is the time they save you. Instead of getting consumed by the minutia of scheduling, email management, and data entry, your VA can handle these and free up valuable hours in your day.??
You can then invest this saved time into higher-value projects that require your skills and expertise.???
With a virtual assistant, you get more done in less time, making your workday more efficient and productive. You’ll also have more time to focus on strategic decisions and core activities that drive growth. Improved time management translates directly into higher ROI for your business.??
"The time I am saving on not deleting emails alone is saving the district thousands of dollars."?-Rob Lukens?
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Financial ROI of virtual assistants??
Delegating tasks to virtual assistants can reduce labor costs. Hiring full-time employees comes with expenses such as salaries, benefits, and office space.???
It typically?costs companies between $4,000 and $20,000 to hire a new employee , not including salary and benefits. Benefits tend to cost anywhere from?20-40% of an employee's salary ?and the?average executive assistant’s salary in 2024 is $66,051 .???
So, at the most conservative estimate, hiring an in-house executive could cost you:?
$4,000 (to hire) + $66,051 (base salary) + $13,210 (20% benefits) = $83,261.??
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Virtual assistants, on the other?hand,?typically work on a contractual basis, allowing you to pay only for the necessary hours or tasks. You don’t have to pay the hiring, overhead, and benefits costs. Those are handled by the service.??
Plus, virtual assistants can help increase your bottom line by improving efficiency. They handle admin tasks, allowing your team to focus on high-impact activities like sales and client management. This mindset shift can lead to better business outcomes and higher profits.??
Say you pay $1,500 a month for a VA who handles 55 hours of work for you. If your time is worth $200, you just saved $11,000 by refocusing your time on revenue-generating work.?
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Long-term ROI of virtual assistants??
The long-term ROI of virtual assistants goes beyond immediate cost savings and efficiency gains. Over time, the benefits of having a virtual assistant become even greater. By consistently handling routine tasks, virtual assistants help you maintain high productivity levels.??
You can keep your focus on strategic growth?rather than admin. Virtual assistants can adapt to new tasks and responsibilities as your business evolves, providing ongoing value.???
Plus, the flexibility of virtual assistants means you can scale their involvement up or down based on your business needs, ensuring you’re always optimizing your investment.??
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How to hire and manage virtual assistants???
When you hire a virtual assistant, you have two main options. The first method is managing the hiring, vetting, and onboarding process yourself.???
This is typically done by visiting a website like Fiverr or Upwork and searching through thousands of VAs.??
Between posting ads, scouring listings, interviewing, vetting, hiring, and finally onboarding your chosen VA, the process is time-consuming. Plus, even after investing all this time and energy, there’s no guarantee you’ll find the right VA for your business.???
The second method is outsourcing the whole process to a managed virtual assistant service like Prialto. This is the best option for busy leaders who don’t want to spend any time on hiring, vetting, or training VAs.???
Another benefit is that if you don’t like your initial VA, our team will find you another one, no questions asked. Plus, if your VA is unavailable due to illness or a vacation, trained backup support can step in.???
Hiring and managing virtual assistants through managed services like Prialto is simple. Prialto streamlines the complete virtual assistant hiring and management process. When you don’t need to worry about hiring and training VAs, you can focus on the benefits of having a virtual assistant to enhance your business operations.?
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How much do virtual assistants cost, and how much can you save????
The cost of virtual assistants varies widely depending on their skill sets, experience, and the tasks they perform. Typically, virtual assistants charge an hourly rate or a monthly retainer.???
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How to measure the ROI of a virtual assistant??
The benefits of working with a VA become visible quickly – as they take on tasks and you get your time back. But, if you want to get into the math, here are a few key metrics to monitor:????
By tracking these factors, you’ll see the ROI of your virtual assistant, highlighting how they contribute to your business’s success and growth.??
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Bottom Line: Maximize productivity and ROI with Prialto’s managed virtual assistants???
Managed virtual assistants can be a game-changer for business owners and leaders. They take on the tedious tasks, freeing you from hours of inbox management, scheduling, and planning.???
With a managed VA, you can focus on high-value strategic tasks. You’ll be surprised at how much time you can save.???
Are you ready to win back over 25 hours of extra time each week? Discover how?hiring a managed virtual assistant can help you scale your business and give you the freedom to focus on the tasks you excel at.?
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