Keep in mind that if you pay someone more than $600 per calendar year, the IRS has pretty strict guidelines about making sure you issue a 1099. Of course, that means the assistant has to pay taxes on the earned income, which dents his bottom line. So you can always make the choice to pay an assistant under the table. What you do is up to you, but let me repeat: Always keep in mind what tax laws dictate, and make smart choices based on that.
Remote workers often mean more cash flow and greater productivity, increasing a company's bottom line. Allowing people to work remotely often cuts overhead by reducing expenses, such as a larger office space. Greater productivity, which again increases the bottom line, is typically achieved because employees have the freedom to work at their own pace, knowing they have a job to complete. - Justin Goodbread, Heritage Investors
Surprised? Well, you need to spend time on accomplishing important tasks that are important to take your business towards expansion. Going by the observations, the average salary of a personal assistant is close to $39K per year. However, you can hire a virtual assistant at only around $4 to $16K per year. Need not say, there’s a huge difference in the figures and you can make substantial savings by going for the latter option. Moreover, by offloading the time taking tasks to the virtual assistant, you can enjoy potential rise in productivity as well as sales along with considerable impact on profits & budget.
Virtual team is an emerging new-age trend with followers across business sectors. Just like any other new trend, virtual team also has to undergo strict scrutiny of researchers to weigh its advantages and disadvantages before being accepted by the professionals. The advantages and disadvantages of virtual teams can be looked upon from three levels - individual, organizational and societal as a whole. This article summarizes different perspectives on the advantages and disadvantages of the virtual team and serves as ready reference guide to our readers.
While I completely agree that co-location can lead to a better collaboration, if not serendipity, in a global world with scarcity in best-in-class talent, organizations should retune themselves to have a distributed workplace. A well-designed distributed workplace enabled by the right technology can make a virtual playground for innovation, if not for highly productive work. - Madhavan Satagopan, Altimetrik Corp
Money, money, money. The root of a lot of headaches, from international transfers to confusing tax laws. Paying an international team is much more difficult than giving out checks or setting up direct deposit with a co-located team. You have to worry about how to send it, fees, the conversion rates of the day, and much more. What tax forms are you responsible for? How do you file benefits for international employees? A business may almost want to hire a person just to take care of processing payments for remote workers.
Engaging Virtual Meetings: If you’re interested in learning the skills needed to host and facilitate successful virtual meetings, you will find this program useful. It covers the four fundamental skills of virtual facilitation, information on how to properly prepare for meetings, and how to properly prepare for future meetings. The program was created for business professionals of any level.
Many small-business owners wish they could clone themselves or have more time in the day to do their work, because they want things done a specific way. You can train your personal assistant to do tasks exactly the way you want them done. Over time, your personal assistant will get a feel for the way you do things and automatically sync with your style. By developing a relationship with a personal assistant, you’ll begin to trust that your assistant understands your perspective and motivation. An effective and well-trained assistant is the closest you can get to cloning yourself.
Increased productivity. Virtual collaboration tools allow remote employees to collaborate as if they’re in the same conference room. Employees can use forms of virtual communication in the workplace, such as video conferencing, as well as email, instant messages, and the telephone. Workers are more likely to work in excess of 40 hours a week if they’re working from home, and they also take fewer sick days. Employees working together across various time zones are more likely to achieve success if they’re able to collaborate from home. Business hours increase with more flexibility. Furthermore, business will continue as usual regardless of weather conditions that could limit productivity due to hazardous driving conditions.
Level of interaction and communication. Analytics make it easy to determine which employees are interacting and communicating. Managers can track whether or not remote workers are engaging, and use that information to determine whether remote work is right for their company. Besides time tracking software to monitor employees’ time spent working, managers can use project management software to ask for updates and view communication between team members. Intelligent software offers employers a way to digitally monitor employees’ behavior and discover patterns about their progress, or lack thereof. For example, sociometric analysis measures how social relationships affect productivity.
“Face-to-face interaction is generally lost, and there’s no substitute for this during some activities, especially those more collaborative in nature. Video conferencing can sometimes offset this, but it’s not a perfect replacement. Feeling like a cohesive team is more difficult, and some people can never get past that. (Manifesting both with those in the office feeling like remote workers aren’t being part of the team, and remote workers feeling like they aren’t treated like they are real teammates.)” (source)
Keep your antivirus updated, and only install one. Although installing multiple antivirus software may seem safer than just having one, they may interfere with each other. Stick to one good provider, keep the software updated, and run daily scans. It also helps to turn browsing protection on. I’ve been using AVG since 2008 and it’s worked like a charm.
When you hire locally, there is no choice but to live with the restrictions that come from having a small talent pool. You only get access to a certain amount of potential employees in your own city that may or may not have experience in your work area. However, one of the virtual team benefits is that going virtual will give you the power to hire people from all around the globe.
I doubt many companies like or prefer that employees work from home. We allow the policy in order to be able to attract employees who would otherwise go elsewhere. We are heavy users of Slack, Confluence and other collaboration tools that make working at home more productive, but they cannot replace the serendipitous interactions that occur while hanging out by the nitro-coffee keg. - Manuel Vellon, Level 11
Working Effectively with Country X: This program is specifically designed for professionals of any level who want to learn to effectively and productively work with individuals in a specific country. Learning modules focus on building trusting relationships, creating strategies to bridge cultural gaps, effective communication across cultural boundaries, and successful collaboration.
Even with the right tools and adequate planning, virtual teams in the workplace can pose unique challenges for global companies of all sizes. An experienced talent development firm can help companies navigate the trials that come with virtual collaboration across cultural boundaries. Choose to work with a firm with a validated inventory in the market and a proven record for success.
“If the employer and the client are not comfortable conversing in the same spoken language, it is almost guaranteed that the project will cost more money and be delayed. When dealing with a client or employer that does not have the competence of a native speaker in your language you must specify exactly what you need, as if you were talking to a child or machine. Most of the horror stories you see on sites like TDWTF are results of poor communication, not incompetence or malice.” (source)
Customer Service Representative – For a busy entrepreneur, customer service is a great task to outsource to a virtual assistant. You can forward calls to your virtual assistant, and they can become a virtual call center designated specifically for your business. With the enhancement of technology, there are companies such as Ring Central that make this an easy option for small businesses. Additionally, the virtual assistant can handle any follow-up calls as needed.