New research studies show that virtual assistants increase company profits by 30% YoY
Virtudesk, a national leader in outsourcing virtual assistants, is releasing survey results that showcase the company’s growth of 162.53% in 2021 and overall 3-Year growth of 454%.CEO Pavel Stepanov found a way to mitigate the pandemic’s effect on the company and with his agile thinking and hard work paid off, and Virtudesk is now on the INC 5000 fastest-growing US-based companies.
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“With Covid-19 forcing companies to look at cost savings strategies, the first area of savings comes from staffing which led many of our clients to leverage offshore resources to support their operations and marketing efforts,” said CEO Pavel Stepanov. “A majority of our clients are in healthcare and real-estate, and both of these industries have seen historic rise inactivity during the pandemic which led to the need of additional staff.”
The rise of entrepreneurs over the past three years- almost 25%- has led to the influx of cost-effective solutions in helping to scale and grow their businesses. The surge of the company’s business in recent years comes from the new direction that COVID brought in the way of talent acquisition, with the majority of companies moving to a remote work setup. Virtual assistants are a proven cost-savings tool in the areas of:
- Recruiting Fees: On average, the cost per hire in the US is $4000 per new employee. Research in the most recent study by Virtudesk found that clients also save about 80 hours in the recruiting and training process, quickly onboard talent, and continue to grow operations.
- Lowering Labor Costs: Clients slashed their labor costs by 78% when hiring a virtual assistant due to the no overhead operating expenses.
- Saving on Operating Costs: Hiring a virtual assistant versus an internal employee can save up to $60,000 in operating costs due to the cost per hour payment for specific tasks that comes with hiring a virtual assistant.
The study also found that 50% of clients experienced a 20% revenue increase, and 15% reported an increase of up to 30% by incorporating virtual assistance onto their team. This year’s annual projection for Virtudesk forecasts continued significant growth in the need for virtual assistants calling for the company to grow its offerings in marketing, administration, and technology.
