Hiring a remote assistant is one of the best ways to boost productivity. Outsourcing gives you more time to attend to the key functions of your business like sales or management. Still, it’s understandable if you’re apprehensive.

For many small to medium-sized enterprises, resources are tight, so recruiting gets placed at the bottom of the list of priorities. You end up doing the non-essential tasks yourself and miss out on opportunities. This leads you to compromise on growth and get burnt out.

Truth is: you don’t have to do everything alone. Neither do you have to give an arm and a leg to get much-needed help. Virtual assistant rates can vary wildly, so it’s possible to find someone who’s talented and fits your budget.

Today, we’ll show you how to get the most bang for your buck when outsourcing to a VA.

Identify the tasks you want to outsource

Remote assistants are no longer limited to secretarial or administrative work. You can also find someone to handle specialised tasks such as network engineering or search engine optimisation. Note, however, that professional licenses or Google certifications add a premium on virtual assistant cost.

If it’s your first time or your budget is tight, we recommend outsourcing administrative tasks for now. These include email handling, appointment setting, and data entry. This allows you to widen your choices and even take a chance on entry-level candidates to save money.

Evaluate and project your monthly cash flow

Prior to hiring a VA, find out how long you can keep one on the payroll. It might take a while for your company to build a constant stream of revenue if you’re just starting out. When revenues aren’t constant, your working capital gets depleted more quickly.

So, review your monthly cash flow and determine the worst case scenarios for your income projections. In case of shortfalls, list down other sources for funding. Proceed with hiring if you can still afford to pay virtual assistant rates, even if you run into minor financial issues.

Determine how much you’re willing to pay

After running through all the possible scenarios for your business finances, you’ll be able to compute a budget for your remote assistant. This will guide you in sourcing, qualifying, and selecting your top candidate. Even with a low budget, it’s possible to acquire top talent.

Start with plotting out a flexible schedule. If possible, keep it within 10 to 20 hours per week. Reduce virtual assistant pricing even further by getting someone from the Philippines or Nicaragua where they charge lower without compromising the quality of work.

Know how much a virtual assistant will cost

Before claiming that they’re too expensive or demanding too much, it’s worth learning what factors affect virtual assistant pricing. These include the following:

• Experience – Recent graduates or career changers tend to charge less than those who’ve been in the industry for years.
  
  
• Services provided – As mentioned earlier, specialised services like coding demand higher fees than executive assistant-type tasks.
  
  
• Deadlines – Projects that need to be done in a rush are understandably more expensive than those that provide more time.
  
  
• Convenience – Projects that have a wide scope or a lot of moving parts charge a bit more per hour due to the hassle they bring.

There are different kinds of arrangements to choose from too, and these are:

• Hourly – The most common pricing basis among VAs. Typically, this is computed according to their gross expenses then the number of hours they anticipate working per month.
  
  
• Retainer – This allows you to make a prepaid commitment, e.g. 40 hours per month. It’s more of a flat fee rather than being dependent on the hours worked.
  
  
• One-off – The ideal arrangement for one-time projects and require no commitment down the line. You can simply bring in their help for one particular project and part ways.

Use the above considerations as your guide when you’re trying to determine if a candidate is worth the price that they’re asking for. Remember to compare their fees with the average virtual assistant rates you can glean from job sites and other reliable sources.

Consider what you’re willing to negotiate with

If the other party isn’t willing to negotiate, it’s best that you move on rather than force the issue. Pursue those who want to function as a partner with you instead. Why? Because they’re looking for a long-term arrangement which is more favourable for you too.

When negotiating, think about what you may exchange for a discounted rate. Maybe you can give them more freedom in choosing their hours, for example. Make sure that your request is fair and reasonable so that the result is beneficial for everyone involved.

Put every detail of your arrangement on paper

Don’t settle for a verbal agreement and cover the conditions under a written contract. This way, both you and the remote assistant will become legally bound to it.

Your contract should include the following details:

• Work schedule
• Work scope
• Operational process
• Arrangement period
• Client (your) obligations
• Service provider (VA) obligations
• Payment details
• Virtual assistant rates
• Pre-termination provisions

Your service-level agreement or contract will become the sole document referencing your arrangement. It will ensure that there will be no misunderstandings with expectations or standards between both parties.

Work With a Cost-effective Virtual Assistant

Remote assistants are a worthwhile addition to any growing team. There’s no need to stress over the virtual assistant cost if you think of it as an investment for your business. The tips above will also help you maximise what you’re paying for.

Do you think you’re ready to hire a VA? Let Remote Workmate be of assistance to you. We’re able to connect you with qualified candidates from locations like the Philippines and Nicaragua so you can enjoy reasonable virtual assistant rates.