It seems that everywhere we turn these days there is talk of an upcoming recession.
An article by Jeannine Aversa, AP Economics Writer, says that “The unemployment rate leaps to a two-year high, record numbers of people are forced from their homes and Wall Street nose-dives again".
This is the because of the high tariffs rates and rising costs associated with them. This is a meltdown that threatens to plummet the country into an economic recession.
But, what can you do to save yourself? Where can you turn?
What about virtual assistance and virtual staffing? The good news is those tools exist now, which didn’t exist in recessions past, to help businesses through recession. In the old days a recession meant certain death for a lot of businesses, especially small businesses. Today, it doesn’t have to!
For years now, companies have embraced hiring virtual assistants through virtual staffing agencies in order to save on payroll and other overhead costs. Perhaps the time has come for your company to give virtual working a go before the crunch strikes so you’re ready for the upcoming recession and your business is ready for what comes with it. Even in a robust economy saving money against your bottom line is a sure way to increase your company bottom line and stay ahead.
What happens during a recession? Typically, a company may lay workers off and cut jobs to save money on payroll and hardware costs like computers, desks, electricity, telephone bills, etc. I’ll be the last person to deny that some of these are quite necessary to survival during a recession. But even in a poor economy, companies need services. We need order takers, customer service personnel, receptionists, data entry workers, appointment setters, warm callers, and so on. So how can we fight back during recession, still get all of those necessary tasks done, and keep growing our companies?
Survive and Thrive Even if Times are Bad
How can a virtual assistant and virtual staffing help me save my business during a recession? Just save? You’re thinking too small. How about grow too?
Close your eyes and imagine a business world where you could ditch the high cost of sustaining office space; delete the daily commute and high cost of fuel; give the axe to buying a bunch of expensive office equipment for everyone; keep the kids at home and avoid the astronomical daycare costs; stop paying unemployment insurance, F.I.C.A., employee income tax, and health insurance; never deal with the employee arguments; and have your workers thank you for the work.
does this sound like a fairy tale? Well, it isn't when you hire your employees virtually.
When you hire a virtual assistant through a virtual staffing agency here’s what happens:
- When you call to discuss your needs, your call is answered promptly and courteously
- You discuss the tasks that need to be completed and other business needs with a qualified staffing consultant who will understand your business and your needs
- Once you’ve given the go ahead the consultant searches the virtual staffing agency’s database for the best possible virtual assistant for you
- The virtual assistant is assigned to perform tasks for your business
- You immediately begin working one-on-one with the virtual assistant
- Your assistant will report to you daily letting you know what work has been done and cheerfully thanks you for giving them the work
- They only clocks in when she’s working on your tasks. No need to pay for time not worked just because the assistant is sitting in your office
- Your assistant will be on call throughout the day, all week, but not billing unless you have tasks to work on
- You are invoiced from one place for all of the assistance you need – whether it’s one or twenty virtual assistants
Of course, the virtual assistant is an independent contractor so you won’t pay for health insurance, vacation time, sick time, F.I.C.A., office space, computers, desks, or even a lunch break.
What about the growth? Quite simple. What is the number one thing most businesses are missing during a recession? Cash. Cold hard cash.
If you’re saving money on office expenditures and have reduced your payroll to only the essentials, what should you have more of? Cash!
What does a greater amount of cash allow a business to do? Grow! Market more, sell more and grow.
Most businesses have dozens of full and part time staff members. Those staff members in the bricks and mortar world, as employees in an office big enough to house them would cost the company nearly $1.5 million per year. Instead, with virtual assistants, that cost would be drastically reduced.
Most employees happy if they work from home. They enjoy greater flexibility which leads to greater loyalty, greater productivity and less down time.
More pluses to hiring and working virtually is there is very little impact on the environment, it costs a lot less and there is no employee friction, when people work from home.
Give it a try!
Photos: Austin Distel
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