In the midst of the COVID-19 pandemic, many businesses are looking at ways to reduce overhead. One of the benefits of hiring virtual employees is a decrease in overhead. Virtual employees can work from anywhere, and many companies choose to hire virtual teams from countries with lower costs of living.
The cost of a traditional American employee is substantially more than just their salaries. According to The US Bureau of Labor Statistics, on average, employee compensation costs $37.73 per hour worked, while salaries accounted for just $24.82 per hour worked. This means that a typical employee salary makes up only 70% of the overall costs of employment. In addition to compensation, employers need to pay benefits and taxes, but there are other costs to be considered when hiring a local employee:
- Office Space
- Cost of IT team to manage equipment
- Cost of recruiters to find the employee in the first place
- Office culture boosters – espresso machine, snacks, team events, branded swag.
- Paid vacations, holidays, and sick days
Hiring local employees can be expensive and difficult, especially in today’s world. It should be easier, and thankfully it can be when you hire a virtual employee or virtual teams from Rocket Station. In addition to overhead costs, virtual employees are pre-trained, saving you several critical hours of paying an employee during the onboarding process, just to get caught up to speed.
If you are ready to take the next step in locking in the benefits of hiring virtual employees, Rocket Stations highly-trained teams are sure to be the right fit. Contact us today!