Generally, a freelancer or contract-based remote worker receives a once-off payment after completing a project. If you plan to hire a virtual assistant, scheduled regular payments will be the route to go as this is similar to in-office full-time employees or part-timers. However, are you in the loop on how much their services cost? Read on and acquaint yourself with the basics on how to pay your hired virtual staff, keep track of their working hours, and the tools for setting up their payments.
Why Pay for Virtual Staff Services
One main reason people find interest in entrepreneurship is the experience of financial freedom and time. But when the business expands, neverending tasks suffocate the business owners. This is our purpose at Phoenix Virtual Solutions, to help them source talented healthcare virtual staff perfectly suited for their needs. Our Filipino virtual staff are highly skilled in these areas:
- High proficiency in verbal and written English
- Trainable, educated, and experienced
- Equipped with technology for remote work
- More affordable rates compared to the first-world market employees
- Minimal language and cultural barriers
How Much Do You Pay For Virtual Staff Services in the Philippines
Consider three things to understand the factors affecting the hourly rate of a Filipino virtual assistant:
- Work arrangement. Because of ongoing work arrangements involved in a project-based schedule, hourly rates on a regular work schedule has proven to be more cost-effective
- Method of outsourcing. Hire directly or through an outsourcing company like Phoenix Virtual Solutions to find your preferred virtual staff service
Level of skills and experience. The higher the level of expertise and skills definitely calls for higher salary rates. An expert-level VA with web development skills will require a different pay grade compared to an administrative or executive VA or virtual staff designated to take care of email distribution or a calendar manager.
How to Pay Your Filipino Virtual Staff
1. Work Arrangement
- Full-time. In this setup, the virtual assistant works five days a week as part of your internal team, having an average of 40 hours a week.
- Part-time. Your virtual assistant does not work on a full load, and reports 1-5 days per week, averaging 20 hours a week.
- Per project or output. Pay your virtual assistant per hour or work output after completing the work. This will depend on the temporary or ad-hoc tasks like words written, videos produced, graphics created.
2. Payment Schedule
- Monthly or bi-monthly. Most companies that have full-time employees and part-timers use this payout schedule.
- After task completion. Virtual assistants working per project get paid in full immediately or half at the start and then the other half after completion.
3. Payment Tool to Use
We’ve identified some things to consider when selecting a payment tool for transferring money:
- Fees. Don’t be shocked by hidden costs. Money transferring services charge additional transfer or conversion fees per transaction.
- Ease of use. Pick an easy-to-use tool with top-up credit that can send money and check transit information.
- Customer support. Let a responsive customer support channel assist your arrangements when something goes wrong with your money transfer.
- Exchange rate. Check published currency rates of money transferring services and their various charge fees.
- Transfer limit. Protects you from fraud and marks the amount limits when sending a monthly payment to your virtual staff
Popular Money Transferring Tools to Pay Your Virtual Staff
- PayPal Fees. Considered as a credible and popular tool. Takes out larger fees compared to other online money transfer tools.
- Payoneer Fees. Eliminates specific fees because of the provided physical cards to withdraw money without going through a bank.
- Remitly Fees. Charges a flat fixed rate per transaction at any cost.
4. Time-Tracking Tool
- Time Doctor. This is our go-to money transfer service at Phoenix Virtual Solutions. Pays $5 per month for its integrated internet usage tracking features such as screenshot, and keystroke logging.
- Hubstaff. Comes with a free version and starts at $14 per month for two users.
- Clockify. Costs $3.99 per month and up.
Final Thoughts
Be diligent in paying your virtual staff on time to make them happier and motivated to treat your business as their own. Any delays in payments can breed distrust and dissatisfaction. Higher turnover employee rates are never good in business.
Find the right outsourcing staffing company to handle your payouts. Contact Phoenix Virtual Solutions to help you determine the costs for your foreseeable business future. Our technical and specialized Filipino healthcare virtual staff will treat your business as their own.
