Critical Factors to Consider When Deciding for the Right Payment for Your Virtual Administrative Assistant

You do not pay the price of success, you enjoy the price of success!”Zig Ziglar

Critical Factors to Consider When Deciding for the Right Payment for Your Virtual Administrative AssistantGaining momentum in your industry is like a dose of adrenaline to business owners. Reaping the rewards of all the hard work it takes for a successful start-up, putting the virtual business systems in place in order to operate on the cloud, gather the resources and get busy closing transactions. Wait! Did you hear ‘operate on a cloud and resources?’ They don’t only refer to the facilities, equipment or capital investments, but also to the manpower (e.g. business manager, clerk or a virtual administrative assistant) who are the real heroes behind the success of your business. The key success is to find the perfect balance of affordable price options for each of these catagories!

Let us say you hire a virtual administrative assistant for your business. You understand that if you pay them too much, it won’t be profitable for your business. If hire the lease expensive option you risk getting below average help which directly impacts results and therefore could cost you more in the long run even possibly causing your business to fail.

You are indeed struggling with the question of how you are going to compensate your virtual administrative assistant! Below is a hit list of factors to consider in determining what would be too little or what would be too much to pay your virtual administrative assistant.

Virtual Assistant-Related Factors

Qualifications of Your Virtual Administrative Assistant. This pertains to the educational attainment, set of skills or level of proficiency, training, and years of experience of your virtual administrative assistant. The more qualified your virtual assistant is, the more likely they can deliver the required quality of work for your business. It goes without saying that highly proficient virtual assistants should receive a higher rate compared to the less qualified ones.

Location of Your Virtual Administrative Assistant. Current trends show that US-based virtual assistants charge around $35-75 per hour whereas those working offshore charge as little as $3 per hour. If you get to hire a skilled virtual administrative assistant, you now have the idea of how you are going to compensate for their services.

Types of Services. This is all about the complexity of tasks. A virtual administrative assistant who does simple office or administrative tasks like data entry and telephone support is more likely to receive a lower rate compared to a virtual administrative assistant who provides more complex services like copywriting, search engine optimization and web development.

Classification of Your Virtual administrative Assistant. There are two general types of virtual assistants. Those who are considered freelancers and those who are affiliated with a virtual assistant firm. These VAs working under a firm usually are certified virtual assistants. You can have the assurance of getting the best quality of outputs and quicker results considering that your project is usually done by a team or by one virtual assistant under the supervision of a team leader.

Employer-Associated Factors

Critical Factors to Consider When Deciding for the Right Payment for Your Virtual Administrative AssistantSize of Your Company. A virtual administrative assistant will surely get higher rates for working in bigger companies than providing services to small businesses that naturally haggle for a smaller deal. Therefore, business owners should not be selfish! If you know that you are making big profits in your business, pay your virtual administrative assistant reasonably, but not too extravagant. This way you can get the best value for your dollar.

Needs of Your Company. Your business may need a virtual administrative assistant for a short time project like making of a company brochure and so on. You may need one to make him a permanent part of your business. The latter therefore should be paid with higher amount considering the fact that they will be on board for the long haul.

Nature of Your Business. If you are a company that deals with real estate, legal, paralegal or financial support businesses, you are more likely to pay higher rates to your virtual assistants compared to those companies that outsource only basic administration tasks or aid in other small businesses activities. It only makes sense that you pay a little more for assistant with training in your specific line of work, which in turn assures better results and satisfaction. Also, when you hire appropriately you will spend less of your time training them and therefore allowing you to focus on what you do best.

You see, deciding the rates for your virtual administrative assistant can be a bit challenging. It doesn’t just depend on the amount that you both have agreed; there are so many factors to consider. Figuring out how much you have to pay for the different virtual administrative assistant jobs that you outsource is critical to the success of your business.