It’s a tight labor market. Anyone paying attention knows it and things are no different for enterprise companies. You are feeling the pinch, with an ever-growing list of job vacancies.
But every company is having the same experience.
When everyone is in the same situation, it’s easy to think that it’s normal. Perhaps this is just how it will be for everyone for a while, and companies need to accept being understaffed. Maybe you think you’re adjusting to operating with a smaller team, that you’ve adapted.
The truth is you may have adapted in some ways. But being understaffed is costing you, whether you can see it or not.
What you need is a staffing solution, one that doesn’t run afoul of employment law, one that solves the hiring crunch quickly, and one that keeps you on a path towards growth. That’s the solution you need if you’re willing to admit job vacancies are not normal and are hurting your company.
You can appreciate the solution once you realize how serious the problem is.
The Hidden Cost Behind Job Vacancies
Vacant positions aren’t simply inconvenient; they’re expensive.
Unfilled jobs are synonymous with lost productivity, sales, revenue, growth, and time.
If you’re attempting to fill the vacancies through traditional hiring, at least you understand the vacancies can’t stand. But, for those tasked with recruiting, up to a third of their workweek can be spent on the task. What else could they be doing with that time?
Which is why many executives decide to make do with the situation and take care of the admin work themselves. If you decide to skip the hassle and do the work yourself, consider that small business owners spend 40% of their work hours on tasks that don’t generate any income. While it’s different for enterprise companies, the problem is still there. You’re spending time doing work that doesn’t lead to growth, sometimes even hindering it. Job vacancies exacerbate pretty much every problem you’re trying to deal with.
If you wanted scary numbers, you could run some that are specific to your company to get an idea what your open jobs are costing you.
What does it take to hire a new employee, from sourcing all the way to onboarding? What’s the cost of productivity loss associated with that job? How about the costs of overtime or burnout from pushing the extra work onto other team members? How many team members are leaving because they’re overworked? What’s the cost of equipment going unused, or sales not being made? The list goes on.
It’s hard to put a firm number on what job vacancies cost, but it’s probably surprisingly high. And by running full speed ahead with your team trying to pick up the slack, your productivity is dropping.
The more time you leave jobs open, the more the productivity debt grows. It’s not just a matter of filling the job, but doing it as quickly as possible.
Make Sure You’re Compliant
A quick fix to all of this would seem to be bringing on independent contractors or finding an agency to connect you with temp employees; especially so if part of the struggle is a lack of candidates in your geographical area.
But that seemingly quick fix can get you into expensive trouble because of employment laws.
California’s AB5 law was a wakeup call to many companies who had been relying on independent contractors to fill job vacancies. The more companies use an independent contractor, the more they begin to rely heavily on them and treat them like a regular employee. That’s illegal. Because of AB5, the definition of who was considered an employee, and the financial penalty for getting it wrong, was front page news.
Staying compliant with remote workers means that you’re following the criteria used by federal and state entities. It matters how you handle a W2 employee, or a 1099 contractor. And each state has its own laws, so wherever your remote employee is located, it’s your responsibility to be sure you’re in compliance with their state.
You can either struggle with finding a W2 hire and deal with the time and financial costs associated, or you can walk a tightrope to stay in compliance with 1099 contractors all over the country. Those seem to be your only options.
Luckily, there’s one other route you can go, and it checks every box when it comes to hiring an executive assistant quickly, staying compliant, and getting excellent results.
How To Quickly Hire An Executive Assistant
We understand the struggle of trying to fill open positions.
We know time is a real concern for enterprise companies, even after they’ve found someone. Companies lose between 1 – 2.5% of total revenue bringing new hires up to speed. Bringing in an executive assistant who is highly skilled and experienced enough to skip that statistic matters.
The temp workers you’ve used aren’t the quality you need. And most virtual assistants are contractors, leaving the compliance headache a real concern. Those you do find take too long to find their footing.
We think you should be able to get Fortune-500 quality executive assistants on your team within a few days, without having to worry about compliance. We think they should be of such high quality that they integrate quickly with the rest of your team without hiccups or slow-downs.
Enterprise companies are full of high-performing and capable people, but hiring isn’t everyone’s expertise. Yet, it is ours. We’re very good at sourcing and hiring only the best executive assistants available, carefully choosing from thousands of applicants before hiring those selected as our W2 employees.
Did you catch that?
They’re our employees. The compliance issues are our concern, not yours.
You get access to the best, and are matched with an executive assistant who’s a good fit for you and your company. We’re fast to deploy, and you’ll have a fully integrated team member who exceeds your expectations very quickly.
You don’t have to keep losing on the opportunity costs of vacant positions.
As an executive, you don’t have to waste your time on admin tasks. You don’t have to have the stress of picking up the extra work or trying to muddle through hiring. In fact, the only thing between you and increased productivity is a simple conversation with us.
Topic: Remote Staffing
Updated on December 19th, 2022