Benefits of Outsourcing During the Economic Downturn

The last few years have seen businesses struggling due to the global economic downturn. Naturally, business owners are keen to tackle this. But in a landscape where most businesses are struggling, where do you start? Well, you could always start by harnessing the power of a virtual assistant. Outsourcing during an economic downturn makes sense for many reasons, and a virtual assistant provides the perfect way to get started.

The Truth about Virtual Assistants

Virtual assistants have been rising in popularity since the Covid-19 pandemic changed the way we work. But not everyone is fully aware of how they operate. Luckily, here at Pineapple, we’re experts in this field and can tell you everything you need to know.

A virtual assistant can perform all the tasks that an in-house assistant does, with the bonus of being able to work remotely from anywhere in the world. The only two things they need are a PC and an internet connection. Using these to access your IT infrastructure, a virtual assistant can seamlessly take on your workload. And, remember, the possibilities for your virtual assistant’s location are limitless. They can work in different time zones and different continents with zero inconvenience to your business.

How Can They Help During an Economic Downturn?

With a global recession on the cards, outsourcing during an economic downturn represents one of the safest ways to secure the future of your business. Hiring virtual assistants is central to this strategy.

However, while they certainly sound convenient, how exactly are they going to help your business in the long term? Thankfully, it doesn’t take long to start getting convinced. And, if you want to reach that decision even quicker, just look at these benefits:

Lower costs:

When you start working with virtual assistants, you stop paying out salaries. Instead, you will find yourself paying flat, hourly fees. And, given that you are only paying for the work and projects completed, outsourcing during an economic downturn is clearly a budget saver.

But the savings don’t stop there. You also benefit from the fact that, as the client, you aren’t responsible for sick pay, 401(k) contributions or vacation pay. So, in total, a virtual assistant will make a significant difference to your balance sheet when compared to in-house employees.

Increased productivity:

One of the biggest impacts during an economic downturn is an increase in the number of layoffs businesses have to make. While this does result in cost savings, it’s also matched by a reduction in productivity. This is because highly skilled staff suddenly find themselves taking on low-value tasks, therefore, they are unable to concentrate on their main objectives.

The resulting drop in productivity, however, can be managed by bringing virtual assistants on board. Available on short-term contracts, a virtual assistant can take on the workload left by those laid off and allow your highly skilled staff to concentrate on their areas of expertise.

Enhanced flexibility:

An economic downturn has only certainty: increased uncertainty. Therefore, you need to make sure that your business can remain flexible in the face of this challenge. And a virtual assistant is perhaps the best example of flexibility. Say, for example, your business is experiencing high demand for your services. It may feel as though you need more staff, but it’s tough to commit to long term labor costs during a recession. However, a virtual assistant doesn’t need to be a permanent fixture. If you only require them for a couple of shifts a week, that works for everyone and keeps your costs down.

Prevent burnout:

There’s a significant link between stress and economic crisis, so it pays to reduce the impact it can have on your brand. After all, when stress levels start to increase, you can bet your bottom dollar that mistakes will soon follow. This could result in missed payments, poorly delivered services and disputes between staff. And, unfortunately, during an economic downturn it’s likely you will need to lay off employees, putting your remaining staff at risk of burnout. This is where a virtual assistant steps in. Thanks to their flexibility, they can be brought in to tackle high workloads and reduce the stress on the rest of your team.

Accessing specialized skills:

One of the key benefits of outsourcing during an economic downturn is that it allows businesses to access specialized skills and expertise which may be too expensive or difficult to find locally. And, don’t forget, as long as a virtual assistant has an internet connection, they can access your organization from anywhere in the world. This can be especially helpful for businesses who need to adapt quickly to changing market conditions. For instance, outsourcing can provide access to skilled professionals who are knowledgeable in areas such as digital marketing, IT, and accounting.

Scalability:

It’s important, during times of economic instability, to keep one eye on scalability. You need to be able to adjust your business operations quickly and efficiently, either by increasing or decreasing your workload as necessary. Turning to virtual assistants allows you to access additional staff without having to invest in permanent hires and their associated salaries. Accordingly, you can quickly shift your labor needs in line with the demand for your services. This means your business is better positioned to navigate through difficult periods and remain competitive.

Enhanced expertise:

Virtual assistants bring many benefits to a business, but perhaps their most important asset is their expertise in given fields. Take cold calling, for example, this is a skill which requires real experience and knowledge to do successfully. And, with a vast knowledge of their specific niche, virtual assistants can bring a seal of quality to your business. This is always important, but during tough economic times, it’s crucial that your business can demonstrate its authority and expertise. Customers will remain impressed and, in turn, on your books.

Final Thoughts

Retaining your productivity and keeping costs low is important to your business and should be. So outsourcing during an economic downturn is vital. Virtual assistants represent an exciting business strategy for survival, and they also have the potential to enhance your existing business operations beyond recognition.

So, with virtual assistants providing a lifeline to your business, you know what to do: hire them. But how do you go about bringing these experts on board? Sure, you could advertise online, but it would be even better if you could tap directly into a rich pool of labor resources. And that’s exactly what Pineapple can offer you, all you have to do is contact us here to get started.