Free E-book: 50 tasks to out-source to a virtual assistant. Download
June 6, 2024

The Hidden Costs of Traditional Hiring: Why Taskbase is the Smarter Choice

Discover the hidden expenses of traditional hiring methods and explore why Taskbase offers a smarter, more cost-effective solution for businesses seeking top talent.

Consider the Hidden Costs to Hiring

Traditional hiring is expensive. There are often hidden costs that can significantly impact your bottom line. Beyond an employee's salary, you must also consider expenses related to recruitment, training, benefits, and their office space. 

These costs can quickly add up, making traditional hiring an expensive and inflexible option. A digital option that avoids these costs might be a cheaper way to go if you’re looking for a scalable and flexible solution. 

Recruitment and Onboarding Costs

Recruitment is a time-consuming and costly process. A report by the Chartered Institute of Personnel and Development (CIPD) found that the average cost per hire in the UK is approximately £3,000. This figure includes the advertising, recruitment agency fees, and the time spent by internal staff on hiring activities. 

Once a new employee is hired, there are then additional costs associated with onboarding and training. According to the UK Commission for Employment and Skills, the average company spends over £1,500 per employee per year on training. These costs strain resources, especially for small and medium-sized enterprises. 

We understand that these costs can prevent small businesses from hiring, leaving business owners looking for alternate solutions, which is why we created Taskbase. 

The Benefits of Virtual Assistants

A virtual assistant, provided through platforms like Taskbase, offers a cost-effective alternative to traditional hiring. 

Taskbase virtual assistants are available on a contractual basis, meaning businesses only pay for the services they need. This pay-as-you-go model eliminates the recruitment and onboarding costs associated with traditional hiring.

In "The 4-Hour Workweek," Timothy Ferriss advocates for outsourcing tasks to free up time and reduce costs. By leveraging virtual assistants, you  can streamline your operations and focus on core activities, without the financial burden of traditional hiring.

Reduce Your Overhead Costs

Traditional employees require physical office space, equipment, and benefits, all of which contribute to overhead costs. For example, the average annual cost for office space per employee in the UK can be around £6,000, depending on the location. Office equipment such as desks, chairs, computers, and phones can add another £1,000 per employee. Furthermore, providing benefits such as health insurance, pension contributions, gym memberships, and work socials can cost an employer around £3,500 annually per employee.

In contrast, virtual assistants from Taskbase operate remotely, eliminating the need for additional office space and equipment. This reduction in overhead costs can lead to significant savings. Without the need for physical office space, businesses can save thousands of pounds annually. Additionally, the cost of office equipment and other employee benefits is greatly reduced, allowing businesses to allocate resources more effectively towards growth and development. As Peter Drucker noted, "Efficiency is doing things right; effectiveness is doing the right things." Taskbase enables businesses to focus on effectiveness by reducing unnecessary overhead.

Flexibility and Scalability

Taskbase offers a flexible solution that can be scaled up or down based on business needs. This flexibility is particularly beneficial for businesses experiencing fluctuating workloads. For instance, during peak seasons or project launches, businesses can quickly increase their support levels without the hassle of recruiting and onboarding new staff. Conversely, during slower periods, businesses can scale down their usage, paying only for the assistance they need.

Ken Blanchard, in "The One Minute Manager," emphasizes the importance of having the right people in the right roles. Taskbase allows businesses to quickly adjust their support levels, ensuring they have the right resources at the right time. This scalability ensures that businesses remain agile and responsive to changing market conditions, improving overall efficiency and effectiveness.

Access to Expertise for 80% Less

Taskbase provides access to a global network of highly skilled virtual assistants with expertise in various fields, such as diary management, event planning, invoicing, market research, email management, and data cleaning. This access to specialised talent ensures that businesses receive high-quality support tailored to their specific needs.

A study published in the Journal of Business Research found that businesses leveraging specialised skills through delegation see significant improvements in performance and innovation (Brown et al., 2019). Stephen Covey, in "The 7 Habits of Highly Effective People," underscores this by stating, "Strength lies in differences, not in similarities." By using Taskbase, businesses can tap into a pool of diverse, specialised talent without the need for extensive recruitment and training. This means that businesses can start benefiting from expert assistance almost immediately, leading to faster and more efficient project completion.

Enhancing Your Operational Efficiency

Operational efficiency is critical for business success. Virtual assistants can streamline your processes, manage your documentation, and ensure that routine tasks are completed accurately and on time. 

This operational support is essential for maintaining the smooth running of the business and could save you 10+ hours every week. Imagine what you could do with that time back each week.

By utilising Taskbase, you can ensure that your operations are running optimally and cost-effectively. 

Our virtual assistants at Taskbase can handle a variety of administrative tasks, freeing up core staff to focus on strategic initiatives that drive growth.

Taskbase: The Smarter Choice

Traditional hiring involves numerous hidden costs that can strain a business's resources. In addition to salaries, businesses must account for recruitment fees, onboarding costs, and the potential for turnover. Taskbase offers a cost-effective, flexible, and scalable solution that eliminates these costs and provides access to specialised talent.

By leveraging the support of Taskbase virtual assistants, businesses can enhance operational efficiency, reduce overhead costs, and focus on strategic growth. The ability to quickly scale support up or down, access expert skills without extensive recruitment, and reduce overhead costs makes Taskbase the smarter choice for modern businesses looking to optimise their operations and achieve sustainable growth. As Jim Collins puts it, "You must create a culture in which people have a tremendous sense of ownership and accountability." Taskbase enables businesses to build such a culture by efficiently managing support needs and focusing on core strategic objectives.

Get your Virtual Assistant

Join Taskbase

Join hundreds of other entrepreneurs using Taskbase for their business.

Or book a consultation

Get your Virtual Assistant

Join Taskbase

Join hundreds of other entrepreneurs using Taskbase for their business.

Or book a consultation