I recently spoke to someone who advised that he was shocked at the cost of a V.A. He thought he would be better off hiring a member of staff. Now, most companies go through a period where they have work coming in, they are getting really busy, but they aren't quite ready to take on the responsibility of a member of staff.   So what are your options? Well, you could hire a new member of staff, maybe just part-time, surely that will help? Here is what do you need to look at if this is the route you decide to take:  

• Recruitment costs - If you use a recruitment agency, which can cost around 20-30% of the final salary – on an average salary this would be over £4,000
• Salary
• National Insurance - Every employer has to pay toward their full-time employees’ National Insurance (NI).
• Pension - As part of the auto-enrolment scheme, employees are automatically signed up to a basic company pension scheme.
• Training - The average UK company spends over £1,000 per employee.
• Office space and equipment - Unless you’re replacing someone, you’ll need to provide a new employee with desk space, computer and more.
• Employers Liability Insurance
• Other costs - HR costs to deal with new starters, holiday cover, cover for maternity leave, sick days, company cars, software licences and more

To hire a new employed member of staff you must start with Recruitment, now someone with Customer Service and Admin experience will be commanding around £12 per hour as a salary, you could go for a school leaver at minimum wage, but you will have to train them from scratch, and didn't you say you were busy?!  

On average to hire a new member of staff will cost you around double their final annual salary in their first year.  

Your other option is to hire a Virtual Assistant. What you need to know is that with a Virtual Assistant:  

• You only pay for the hours you use
• They pay their own National Insurance and Pensions
• They are already trained and ready to hit the ground running
• They have their own equipment and software licences
• They have their own Insurance and Policies    

So that hourly rate that you think is too expensive actually provides you with a resource that is flexible and immediate. 

Companies hire Virtual Assistants for a variety of reasons, from extra help in busy periods to a way to expand without needing larger premises or more staff.   

So book your Discovery Call today and find out how Lloyd Admin Services can help you achieve more in 2021.