I recently read a fantastic article on HubSpot about the 7 Deadly Disadvantages of Working from Home. I was drawn to this article because it so perfectly encapsulated some of the concerns that my clients have when they are considering working with a Filipino Virtual Assistant. So I thought I would create a series of articles that elaborate upon each of the 7 ‘Deadly Disadvantages’ of remote work (and their solutions!) from the perspective of a client engaging with a VA.
Today we tackle a very practical concern surrounding working with a remote Virtual Assistant:
Issues with Payment & Logistics
While many business owners are familiar with the laws and processes regarding paying people in their own country, there can be some confusion over how to go about this with an offshore Virtual Assistant. And whilst it can be a little tricky navigating different time zones and currencies, the process itself is quite simple.
Engage an Outsourced Service Provider.
Ok – so this is the easiest way to circumvent any confusion regarding the payment of your VA’s – because your OSP will do it for you! When working with a company like Virtual Elves you can expect an invoice to hit your inbox every fortnight (for retainer clients) or after your project is finished, with a charge that has been agreed upon before hand. No hassles, no international transfers, no extra fees – we ensure that your VA is comfortable and paid regularly and on time, every time. This makes for a happy client and a happy VA!
Get yourself a PayPal Account
If you’re going to be paying your remote contractors directly, both you and your VA will need a PayPal account. PayPal allows you to send and receive money from overseas quickly, without sharing financial details.
There are however, some downsides to this. PayPal uses a ‘retail exchange rate’ so you can bet your bottom dollar that it will always be higher than what you can get elsewhere. They also charge a pretty penny for transferring money internationally. If you’re operating out of Australia you can expect to pay anything between 0.5% and 7.5% in fees to transfer money internationally (before taking exchange rates into account) – which can add up very quickly!
Finally, a little tip to keep you organised and your VA dependable and motivated: Pay them on time and be consistent with your deposits. Virtual Assistants are often men and women with extended families to support, and your business could play a big part in allowing your VA and their loved ones to live a comfortable and prosperous life.
Are you a Small to Medium Business Owner looking for ways to do business better? You need to speak with us! Book a Discovery Call with Kristy Here
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