Authored by Melissa Haddad on April 15 2020
When I worked in the corporate world, time management was more about did I get what I needed done and how long did I have until lunch and home time. Now that I own my business, my time management is VERY different and is more about, how much can I accomplish that day before I transition into Mom and Wife.
Being not only an owner of a business but a Virtual Assistant supporting other business owners, I recognize how much time I wasted when I worked. On average, I had all my work completed early in the day, as I was very efficient and most productive in the morning. This would result in having nothing to really do in the afternoon and therefore I would surf the internet or socialize with my co-workers. I am not saying all employees are like this. What I am saying is, regardless of what I did during the day, I got paid for the time I was at work.
In my experience, I have found once entrepreneurs and small business owners realize they have grown enough that they need help, they automatically think about hiring a Part-Time employee, either because that’s their default or they do not understand the difference between an Employee and a Virtual Assistant. Here are 3 Real Truths About Hiring an Employee vs. a Virtual Assistant.
- You are not ready to hire an Employee. There, I said it. Yes, I agree, you absolutely need help within your business to take on various tasks, BUT before you do, you need to ask yourself these questions. What tasks will I give them? Do I have enough time to train them? Do I have enough work to keep them busy for 4 hours per day, 5 days per week, 4 weeks per month, 12 months per year? If your answers have you doubting your decision, this means you would benefit more from hiring a Virtual Assistant as your interim solution. A VA will help get various tasks completed and allow you to focus on more important things to grow your business.
- You are still doing everything yourself. This likely means that you do not have your processes documented, nor do you have your company policies in place. There are many HR policies you need to know before hiring an employee. There are government regulations and legislation that you have to adhere to. You need to understand those to understand whether your company policies are within those government standards. Hiring a Virtual Assistant will allow you to address some of these situations as they come up. Since you have been doing it all yourself, you will learn how to interact with another individual within your business and understand what things are important to you as well.
- You will spend more money hiring an employee. According to Payscale.com the average annual salary in Toronto for a Full-Time Entry-Level Administrative Assistant is $35,563, which works out to $15.48 per hour. This means, you have to pay them regardless of how many hours of work they have. If you hire a Virtual Assistant and their hourly rate is $50-$75 per hour, which may seem expensive, for a full year for approximately 20 hours per month, which is a lot of hours, you would pay $12,000 - $18,000 per year which is a savings of $17,563 - $23,563.
There will come a time that you will outgrow a Virtual Assistant, and that is a great thing to have happen. It means you have grown so much that you have surpassed your needs. Before this happens, you are able to get your Virtual Assistant to set you up for that growth to allow for a simple transition to hiring an employee.
Efficient Business Solutions offers a VIP Strategy Session which will be used to create an Action Plan with a clear strategy, specific goals and manageable actionable steps for you to give your Virtual Assistant, regardless whether you decide to work with us or with another Virtual Assistant. You will have clear direction and know the areas to focus on for improvement within your business. Contact me today for more information.