🎙 When employing a Virtual Assistant, do you think $3 per hour is a fair wage?
How much should you pay them, and what are your responsibilities towards them? What is the best way to structure reward and praise?
Sometimes, in the world of VAs, the rules and regulations can be a little unclear. So Steve is here to summarise what you should be putting in place to pay and support your team and fulfil your obligations as an employer.
KEY TAKEAWAYS: Strategies for Fair Compensation- Is $3 an Hour a Fair Wage?
- Sometimes, the payment that people ask for in other countries can seem low. However, if you pay them the normal wage for your country, you may be significantly overpaying them in terms of the economy where they live.
- Remember that VAs will be paying all their own taxes, so you need to consider that when deciding how much to pay them.
- When advertising a job, ask the applicant what they expect to receive. Then, you can eliminate them based on the range you decide to pay.
- You can hire at a lower rate if you recruit at a base level and train the employees in your specific systems. According to your company policy, you can increase pay as their skills improve.
- You can give bonuses based on performance or provide payments like Christmas bonuses. Paid time off can also decrease burnout.
- Depending on the country, health insurance can be a good incentive for employees.
BEST MOMENTS: How much should you pay your Virtual Assistants?
‘We’ve learnt a lot in all of those experiences and a lot about how to bring people on board, how to pay them what they are worth, so they feel they are getting a good bang for their buck in terms of the time that they actually give to you, and that you’re getting a good return on your investment for the amount you pay them relative to where they live.’
‘The way I chose to go was to pay people a good wage, above the average based on the country in which the person lives.’
‘We are looking for people who have the aptitude and the ability to learn and progress, and that’s why most of the people we start at the general assistant level.’
‘We actually reward people in terms of their appraisal if they are the type of person who brings solutions rather than bringing problems.’
‘I used to have staff; they just work and work and work and never ask for a day off. Then you realize they’re not asking for a day off because they don’t want to lose their wage. So we actually force people to take time off.’
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Since you are also employing Virtual Assistants, do you think $3 per hour is a fair wage? Let us know your thoughts.
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