How do I keep a virtual assistant long-term?
Just like any great team member, you want to keep your virtual assistant happy so that they do not leave and go work for someone else. Here are some tips to keep your virtual assistant happy.
- Give them some time off
- Create a bonus structure
- Give them a stipend for Internet or computer
- Have clear defined KPIs and review consistently
- Make them feel part of the team
- Ask for feedback
- Fly them in once a year for training or company holiday party
Do I need to pay the virtual assistant a salary?
Virtual assistants are paid hourly. They fill out an hourly time card and get paid for the hours they work.
Do I need to pay the virtual assistant overtime?
Overtime is not mandatory and is negotiable. However, it is highly encouraged that companies pay overtime to their assistants. It is important to retain top talent. One of the ways to accomplish this is to offer your virtual assistants paid overtime.
If the job role does not require overtime, you should not approve overtime. Only pay overtime if your assistant is required to work more hours than their regular workweek. What you pay is negotiable. Most companies pay straight time or time and a half. However, you can create your own overtime policy. For example, overtime during the week is straight time, and on weekends time and a half. Or, the first five overtime hours are straight time next five are time and a half.
Does the virtual assistant get holidays with pay?
Because your virtual team member is not a W-2 employee, companies cannot give these contractors paid holidays. However, giving your remote team member the same days off as your employees receive for U.S. holidays can make for a happy team member.
Remember: companies only pay virtual assistants for hours worked because they are independent contractors. However, if your VA works (with your approval) on a day that your W-2 employees receive as a paid holiday, you should pay your VA for their hours worked and logged into their timecard.
Does a virtual assistant get any paid time off?
Again, since your virtual assistant is an independent contractor (and not a W-2 employee), they cannot receive paid time off. They only receive payments for hours worked.
However, we encourage companies to allow virtual team members plenty of time off to recharge. This can increase your retention rate and help build good relationships with VAs. Replacing any team member takes a lot of training time and effort. Retaining good team members should be a top priority.
Should I create a bonus structure for my virtual assistant?
Most companies create a bonus structure around key performance indicators. As a way to retain assistants, a bonus structure can reward them if they exceed expectations.
Does the exchange rate affect how much I pay?
No. You are always paying in dollars (USD). The exchange rate will have an effect on how much the virtual assistant receives but it will never affect the amount you pay.