If you currently have one or two businesses, you probably want to save costs, boost profit, and hopefully indulge in some “me” time or “family time”. To achieve this, you need to let go and delegate some tasks.
Virtual assistants (VA) can be a great addition to your business. Still not convinced on how a remote worker can help? Here are some of the most recent market trends on how hiring a VA can benefit your company. Check out these vital statistics!
1. The IT outsourcing sector will expand at a compound annual growth rate of 4.5% between 2020 and 2025.
Outsourcing is the key these days and while it might be challenging to estimate the size of the virtual assistant market, the global market for outsourced services, which includes the VA industry, was valued at $92.5 billion in 2019 and is expected to continue expanding.
(Source: Business Wire and Statista)
2. The Philippines is the top location to look for a reliable virtual assistant.
Eight million virtual assistants secure work on Upwork, and one in eight of them is from the Philippines, according to data. Filipino VAs are easy to deal with, reliable and also dependable. They are also the most budget-friendly VAs in the world and have the greatest literacy rate (96.2%).
(Source: Virtudesk)
3. In 2020, there was a 41% increase in the use of offshore agencies to hire virtual assistants.
Despite the slowdown in many industries brought on by Covid-19, the virtual assistants industry has never been better. Companies have seen the advantage of hiring VAs which show that the industry's expansion will undoubtedly continue even after Covid-19.
(Souce: NanoGlobals)
4. Project management, email marketing, and social media management are the most sought-after virtual assistant services.
Virtual assistants are skilled remote workers which can easily adapt to the demands of the job. Whether it be marketing, sales, or administrative services, VAs can be your partner. Tasks like SEO, copywriting, advertising campaigns and calendar management are just some of the niches VAs have under their belt and they can definitely help your business.
(Source: Reviano)
5. Operating costs can be cut by 78% when using virtual assistants.
Employing virtual assistants allows businesses to forego all costs associated with maintaining a regular staff. Office space, operational costs like transportation, electricity and more are not going to be an issue.
(Source: Best of Budgets)
6. Remote workers are 13% more productive.
Virtual assistants frequently operate from the convenience of their own homes, giving them more time to organize both their professional and personal tasks. Statistics demonstrate that most remote employees are less distracted at home than they would be at work. They are great examples on how work-life balance is achieved because they are able to concentrate and complete tasks while attending to their family’s needs.
(Source: Virtudesk)
7. More than one-third of small enterprises in 2018 outsourced a business function.
The need for virtual assistants has increased along with the business process outsourcing market. In 2018, 37% of small enterprises outsource one or two of their business processes. In addition, 52% of small business owners shared their plans to recruit a BPO specialist in 2019, and for good reason—manual chores account for over a quarter of their employees' workdays!
(Source: CloudTask)
Given these statistics, hiring a VA will be a game-changer for your business. You’d be able to save on costs, take on new clients and have that work-life balance you’ve been wanting to have.
Did you know that there are businesses like ZBiz Solutions that can help provide assistance? Keep in mind when you’re looking for one!
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