A virtual assistant is a remote administrative assistant for executives. The two professions are not necessarily interchangeable. Because the term “virtual” indicates something that is not actual, it might be perplexing. Virtual assistants are physical persons who assist executives from a faraway place.
From voicemail to email and calendar apps, technology has reduced the proportion of full-time executive assistants and established an expectation that CEOs be self-sufficient.
While you may not require an assistant to protect your office door, it is not always a wise business decision to pay yourself to undertake a job that you could easily delegate to someone else at a reduced cost and increased efficiency.
Advances in high-speed internet, cloud-based software accessible from any location, and communication capabilities like chat channels and video conferencing enable bosses to recruit assistants without incurring the costs of office space and full-time employment.
A virtual assistant can do the following tasks:
On average, executives spend 16 hours a week on day-to-day tasks that distract them from work that moves their business forward. That’s 40% of the week spent on admin work.
Where does the time go? Examples of the time executives spend on admin tasks include:
Taking 23 minutes to schedule a meeting may not sound like a lot, but it adds up fast. Professionals that use virtual assistants for these tasks include:
According to multiple studies, salespeople spend most of their time on non-sales tasks. Selling time of 11 to 36% is a broad spectrum, but what is clear is that sales leaders spend less than half of their time selling.
Where Does the Time Go?
Where does the time go? According to Pace, a sales leader’s time allocation in a typical week looks like this:
A virtual assistant can take much of this work off a sales leader’s plate and give them more time with customers and prospects. Virtual assistants can also take on marketing tasks that align closely with sales processes, such as:
Back-office operations involve many repetitive processes that can be learned and handed off to a virtual assistant. These are essential, time-consuming tasks behind the scenes that need constant attention. For example, executives spend:
Between 2020 and 2025, the IT outsourcing industry will have a compound annual growth rate of 4.5%. Calculating the scale of the virtual assistant sector is exceedingly challenging statistics indicate that the global market for outsourced services, which this industry is a component, was valued at $92.5 billion in 2019 and is expected to continue growing.
Hiring virtual assistants through offshore agencies increased by 41% in 2020. Covid-19 has impacted a variety of enterprises, but despite the slump in several sectors, the virtual assistant market is at an all-time high. Recent statistics on virtual assistant usage indicate that the VA sector will continue to develop even after Covid-19.
Nearly 60% of VAs are full-time employees. Virtual assistant positions are available on a full or part-time basis, as freelancers or temporarily. Although some virtual assistants operate on a freelance basis with multiple clients, the bulk is employed as dedicated assistants.
Over 50% of people worldwide work remotely for 2.5 days per week. Many companies still have a 9-to-5 office workday, an increasing number of companies are adopting a remote work policy. According to statistics on virtual assistants, 85% of virtual workers reported feeling more productive when working from home.
The most in-demand virtual assistant services are social media management, email marketing, and project management. Virtual assistants are proficient in a range of fields, ranging from phone answering to administrative and data entry work. They ensure the smooth operation of your firm, arrange everything for you, and increase your productivity; the list continues on and on.
VA professionals earn between $400 and $5,600 monthly. Rates for virtual assistants vary significantly across the globe. The Philippines is the ideal location for hiring virtual assistants due to their affordable average monthly rate of $400, which most Americans find inexpensive. On the other hand, virtual assistant industry statistics indicate that US specialists in this field make up to $4,000 per month.
49% of companies hiring VAs have more than 1,000 employees. Virtual assistants are in high demand among organisations of all sizes. Statistics indicate that large enterprises with more than 1,000 employees are the most likely to use VAs. The share of VA-oriented businesses employing between 100 and 1,000 people is 31%, compared to 19% of companies with fewer than 100 employees.
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