What are the benefits of working with a virtual: assistant, paralegal or property assistant, versus hiring an employee?

Learn more about why hiring an employee might not be as good of a decision you think it is for your business.

This is a common question we’re asked a lot, and it is a valid one. The employee route is one that’s been done for years, so it’s scary going against the grain. Just because something has been done for years, doesn’t mean a) it works and b) it’s right for your business.

Thanks to the internet, and 2020 bringing remote working into the mix, there are so many more options out there for business owners that actually benefit you more than an employee would.

Here at ELH Assistance we specialise in working with consultant solicitors, but also specialise in support for property investors, so we’ve tailored this blog to you guys. Let’s get to it…

1. As long as you want it to be, a virtual assistant/paralegal is permanent.

A humungous risk to employers taking on staff, and investing a hell of a lot of time and money into them, is that they’ll just leave, because they can. We’ve all done it – taken a job because it’ll get us from A to B, and will look good on our CV. Now more than ever people ‘job hop’, and your company will sadly be no exception.

60% of millennials say they are open to a different job opportunity. This is 15% higher than non-millennial workers.  Millennials are also the most willing to act on better opportunities: 36% report that they will look for a job with a different organization in the next 12 months if the job market improves, compared with 21% of non-millennials who say the same.

So, if you employ a millennial, which take up 60% of the work force, they’re likely on the hunt for another job whilst sat in your office. The introduction of remote working makes it easier than ever for people to job hop.

With a virtual assistant/paralegal, they have started their own business because they love what they do. Once you go self-employed, you don’t often go back to the dark side, so you know they’ll be around for the long haul.

Consultant solicitors and law firms need to be especially wary of this – because the majority of legal workers take legal assistant/paralegal roles to gain the relevant work experience to secure a training contract, or to complete qualifying SQE work experience. So, if you take on a paralegal or legal assistant, the odds are even higher that they won’t stay.

2. You save money, a big win!

Do you actually know how much taking on a new employee costs your business?

For an admin type role, or a paralegal role, you’re looking at just under £26,000 per year if you’re paying minimum wage.

You have to foot pension costs, employer national insurance contributions, holiday pay, sick pay, maternity pay… The list goes on.

You only ever pay for what you use, which you can scale up or down based on your business needs. It is SO MUCH more cost effective than an employee.

"Since working with ELH Assistance, my income has doubled." - Consultant Solicitor Client

Working with a virtual assistant/paralegal, is not only cheaper than using an employee, but it gives you your time back to take on more billable work. It's a no brainer, right?

3. No commitment

This takes me to the joy of there being literally no commitment involved with a virtual assistant/paralegal. Hiring an employee comes with the dreaded question, ‘Will I even get that return on investment?’ What happens if you’ve employed someone and they’re not the right fit? It isn’t so easy to terminate the agreement, and you’re losing money.

With a virtual assistant/paralegal, if the fit isn’t right, you can simply just stop working together. It’s as easy as that. No probation periods, no need for HR to step in, it’s bliss.

4. No management of employees

Becoming a business owner for the first time is tough enough, but if you have no managerial experience, you’re in for a ride. Managing people is so much harder than it sounds, and it adds so much more admin onto your plate.

Using a virtual assistant/paralegal eliminates that, because they’re already trained in the skills they’re offering as a service. You won’t need to train them. Fair enough, you will need to run through your SOPs and any tasks you’d like to add to the list, but other than that, you’re good to go.

5. No premises needed

With employees comes the need of providing equipment and an office for them to work in. But, is that really cost-effective for your business? Or necessary?

In today’s world working from home is the norm, so an office space is likely a waste of your business’ hard earned cash. With a virtual assistant/paralegal, they work remotely, so you have none of this to worry about. They’re also self-employed, so have all of their own equipment ready to go.

Especially as a property investor, or a consultant solicitor, you’re likely working from home, because why do you really need an office? If you want an employee, you’re going to need to look into a base for them. What a chore!

6. Holiday and Sickness Cover

If two employees come to you wanting time off in the summer holidays, which sadly isn’t unlikely, your business is going to suffer. You also can forget that holiday you were planning, because someone needs to hold down the fort.

With a virtual assistant/paralegal, you can book them in advance to be there when you go on holiday. They can manage your emails, deal with new enquiries, draft legal documents whilst you’re away, schedule social posts, and be a general god send, so clients don’t even need to know you’re away. Just because you stop, doesn’t mean your business needs to.

In cases of sickness, we have a team of assistants and paralegals ready to jump in at the last second should you need emergency support. An employee could never!

7. Knowledge

A key benefit of working with a virtual assistant/paralegal is that they already have the knowledge there for your business. We specialise in support for consultant solicitors and property investors, so already know the workings of your business before we get started.

Each member of our team has unique experience in either the legal sector, or the world of property. An employee however will need training, and it can take six months to a year before an employee really settles in. That’s a long time to wait for your return on investment!

8. The best one - you avoid burnout

60% of new businesses go bust within their first three years of running. That's a scary stat.

Running your own business is tough, hats off to you! It gets even tougher when you add employees into the mix, because you’re in charge of them, their feelings, their professional development, their training, everything. You also have to pay for them - and cashflow is always a concern as a business owner. That’s A LOT on top of your feelings, development, running a business, and working with clients.

A virtual assistant/paralegal is trained to work with business owners. They’re skilled in knowing how to reduce your administrative and mental load, so you don’t need to worry about taking care of them. That’s the beauty of business owners working with other business owners. If you're going through a tough month, you can just reduce your hours, and cost, with a virtual assistant. You can't do this with an employee, leaving you open to the scary risk of going bust.

Conclusion

So, if this has persuaded you that an employee is a disastrous decision for your business, feel free to get in touch with us to organise your free 30-minute consultation call. Let us help you!

Get in touch via our contact form here. Or if you prefer, contact Ellie on elliehogarty@elh-assistance.co.uk.