Title: Cost Comparison: Hiring Virtual Assistants Vs. Full-Time Employees
Running a successful independent insurance agency can be difficult, particularly in the nuanced field of workforce staffing. In recent years, however, agency owners have begun tapping into a flexible and cost-effective resource that’s changing the industry dynamics: virtual assistants. This blog post discusses the financial implications of hiring virtual assistants as opposed to full-time employees, and how utilizing your AVA remote worker management software can drive optimal outcomes.
According to the U.S. Bureau of Labor Statistics, the average hourly wage for a full-time employee in the insurance industry in 2020 was $34.57. If we consider a 40-hour work week, the annual salary rounds up to approximately $71,905. This number does not include related expenses, such as taxes, benefits, equipment, and training costs – each of which can significantly push up the true cost of employing a full-time member of staff. [Visit BLS.Gov for more salary data.](https://www.bls.gov/)
On the contrary, hiring a virtual assistant from Agency VA can be much more economical. Considering an average costs of $8 to $12 per hour, a full-year contract with a virtual assistant working 40 hours per week will run between $16,640 and $24,960. And the icing on top? These numbers encapsulate all associated costs, making it easier for agencies to effectively manage and plan their finances.
Now, you may be wondering about the quality of work when comparing a virtual assistant to a full-time employee. Agency VA’s strict vetting process and comprehensive training program ensure that agency owners recieve highly skilled staff qualified to meet their specific needs.
Managing remote teams effectively need not be a hurdle in this process. With AVA, our remote worker management software, you can oversee the productivity levels, manage tasks, facilitate communication and secure data accessibility, all without ever needing to be physically present in the same location. This further delineates boundaries and buffer full-time employees from tasks which often lower teir productive output.
We understand that each business is unique, and so are their staffing needs. From handling administrative tasks to managing customer queries and follow-ups, virtual assistants at Agency VA cater to a wide spectrum of tasks that are crucial to the functioning of independent insurance agencies.
A report by [Stanford University](https://nbuv.gov.ua/UJRN/econom_ectvisn_2013_24_7) demonstrated that remote workers are 13% more productive and take fewer breaks and sick days compared to their office-locked counterparts. Your virtual staff won’t require physical workspace or distractions, thereby minimizing miscellaneous office costs and the ensuing overheads associated with a physical workspace and on-site personal.
Virtual assistants are not just economically beneficial; they also offer flexibility to cater to your needs. Whether you need help for several hours per day, per week or even just ad-hoc, you can contract virtual assistants accordingly.
While cost is a significant factor, it’s paramount to also consider the ancillary benefits, such as time saved in recruitment, ongoing training, and reducing workload to ensure your team can focus on growth strategies rather than mundane tasks.
Understanding these aspects can help you make an informed decision about staffing that drives efficiency at your insurance agency while maintaining cost-effectiveness. To learn more about how virtual assistants can fit into your staffing model, we invite you to schedule a meeting with our team at Agency VA. Our team will be more than willing to sit down with you and discuss your needs, helping you ascertain how best to leverage this flexible resource and our AVA remote worker management software.
In summary, hiring virtual assistants can prove to be very cost-efficient, without compromising service quality or effectiveness. By availing services from Agency VA and using AVA for remote worker management, you can find a solution to juggle overheads, extend your team with skilled personnel, and maintain a high standard of service. It’s hiring made seamless, so you can directly focus on the core of your business. We hope you found this comparison insightful, and we look forward to helping you optimize your agency staffing to its full potential.