One of the most significant side-effects of the ongoing Coronavirus pandemic has been the much-bemoaned labor shortage. The reasons for this shortage vary. Some give credit to what is being called the Great Resignation, and there are statistics to back up this claim. According to the latest figures, 4.5 million people left their jobs in November alone. The great departure from the office, retail jobs, and service positions doesn't show any signs of waning.
Still, more employers were forced to downsize in order to stay afloat. Some employers blame extended unemployment benefits for keeping people away from the workforce. The labor shortage could also be chalked up to people not feeling comfortable going back to work as the pandemic still rages on. Still more people are quitting their traditional jobs in order to seek out self-employment or another line of work.
Whatever the reason for the current labor shortage, the problems experienced by businesses, as a result, could be remedied by virtual assistants.
Bringing in the Virtual Assistants
While running my real estate company, The Good Life Group, and mentoring other entrepreneurs, I was consistently asked how I managed to juggle all aspects of the business and still provide service to a high number of clients each year. The answer surprised some: I used virtual assistants. My own positive experience with virtual assistants sparked the idea for Cyberbacker.
I had started with one virtual assistant, taking a chance that it would allow me to focus on the parts of my business that needed my attention and my attention alone. That first virtual assistant is still with our company, and she was the first in a line of many that were to come.
Our goal was to partner businesses with great individuals who share the same values. The labor shortage has left many businesses with significant gaps in their ability to provide some of the foundational services they need to stay afloat. Companies can fill in those gaps by employing virtual assistants who specialize in those areas of need.
Many of Cyberbacker's virtual assistants are from the Philippines, and we've been able to change people's lives with regular work and a living wage.
Cost-Effective Hiring
Many businesses have needed to cut costs in the last two years, which has led to a labor shortage born from layoffs. Virtual assistants can help companies stay open and operate at a cost savings.
In 2019, the gross national income per capita in the United States was $65,000. That is a staggering amount of money to many virtual assistants who may live overseas in developing countries. The Cyberbackers who work as virtual assistants do so at a fraction of that cost with our company. According to a 2020 study, businesses can save up to 78% of overall operating costs by hiring virtual assistants.
Amid the pandemic upheaval, businesses were concerned about cutting costs, especially concerning office space overhead and the cost of on-location employees. For many businesses, cutting costs was integral to staying open. Entrepreneurs and business leaders could no longer afford to spend time on tasks that were not revenue producing.
Virtual assistants come at a cost savings and allow companies to fill gaps in service for a far smaller investment than an office building full of full-time workers.
Expertise at Your Fingertips, Whatever the Niche
With Cyberbackers, we specially train our virtual assistants to be able to serve specialized niches. Nearly anything a business could imagine concerning need, from social media management to client contact to calendar management. Virtual assistants are trained to meet a business's needs with top-rated work and absolute efficiency.
The national labor shortage has touched all industries. Leaning on the niche skills of highly trained virtual assistants could definitely make a dent in the mounting labor shortage issue.
With Cyberbacker, companies contact us to discuss their individual needs and are matched with a virtual assistant that is chosen to fill those exact needs.
Ready to Work
Much of the conversation surrounding the labor shortage has been concerning people's overall willingness to work. Studies show that expanded unemployment benefits didn't have as much of an effect on the labor shortage as some talk may have people think. An unwillingness to return to work can have many contributing factors, including fear of the ongoing pandemic, people choosing early retirement, care responsibilities at home, or people choosing to pursue other avenues.
The benefit of virtual assistants is that you can access a pool of ready and willing workers to get to work immediately. At Cyberbacker, we have 2,200 virtual assistants currently at the ready to service, with a projected 15,000 virtual assistants by 2025.
Letting Entrepreneurs Follow Their Dreams
Some people who have left the labor force in the last two years have done so to start their own businesses. Virtual assistants are an excellent option for that population as well. When one starts their own business, no matter the size, it can be a bit jarring when they realize the amount of work needed to keep the business running. Utilizing a virtual assistant can help people to build and scale their businesses.
Some of the most in-demand virtual assistants are those that can focus on technical aspects of growing businesses, social media marketing and outreach, and emerging business technologies. Per a recent study, up to 60% of virtual assistants working today have college degrees. They are no longer limited to simple administrative tasks. On the contrary, they can bring a high level of expertise and assistance to new and established businesses.
Economists and business leaders alike have opined on how to solve the current labor shortage. They agree that virtual assistants save money, which can, in turn, save businesses. Even pre-pandemic, Cyberbacker has proven that virtual assistants can revolutionize the way businesses are run. Now, as the pandemic begins to dwindle and the working world finds its way back to its "new normal," it is the virtual assistant's time to shine.
Craig Goodlife is a successful real estate executive who started Cyberbacker to connect small to medium-sized businesses with the top flight support staff that they need in order to grow.
Cyberbacker is an innovative, new, mission-driven company for connecting small to medium businesses. Cyberbacker is the leading provider of world-class administrative support and virtual assistant services from anywhere in the world to anyone in the world.
