What is the cost of hiring new employees in 2025?

The costs for hiring new employees increases each year. Since 2020, the average minimum wage has increased by nearly 21%. And that is just the minimum wage – not considering higher wage professional positions, benefits, equipment, office space, etc. In addition, the cost of doing business on materials, suppliers, insurances, and many other fundamental services has increased by around 25% in the same period (Bureau of Labor Statistics – CPI Inflation Calculator).

You, as a business leader, must find a way to decrease costs while finding ways to also positively increase your revenue and profit. The pace of doing business is only accelerating and the companies that will be successful in the future are the ones that are able to be nimble and adapt to continuously changing business landscape. Do you feel the pressure on your margins and need a strategy to amplify your workforce’s focus on revenue generation?

Hiring managed virtual assistants (MVA’s) is a proven strategy to decrease costs, while keeping your core team focused on the essential tasks to propel your business forward.

Contact us now if you would like to learn more how you can instantly save your company 1,000’s of dollars by hiring MVA’s to carry out administrative, financial, customer support, or other functions within your company. Banyan Pro Solutions is the ideal partner for you to provide the support you need to manage your business.