Meet Vesper: Your New Best Friend for Managing Your SMB Office
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The average salary for an Office Manager in NYC is $50,222, with a typical retention term of 6-24 months.
In October 2015, Co-Founder & CEO Margaret Tung launched Vesper to help business executives create longer-term relationships with experienced office administrators for less than it costs to hire a dedicated office manager in-house.
Margaret, a Yale graduate and serial entrepreneur, recognized that office managers typically receive lower compensation than other employees on the payroll, and yet are imperative to the business (and office) running seamlessly.
According to the Bureau of Labor Statistics, the average annual salary for a NYC employee is $144,716 with a tenure of 4.2 years.
The disconnect in compensation, according to the Vesper team, lies in the fact that business executives frequently seek recent graduates and other nonexperienced personnel to help with administrative duties.
As such, there is a steep learning curve for new administrative hires before they can seamlessly manage company-specific calendars, inventory, procurement, event-planning and vendor relationships.
Vesper's research indicates that once office administrators have mastered their various roles, they frequently seek new and stimulating challenges. Oftentimes, these opportunities exist at different organizations, leading to high turnover.
This self-perpetuating cycle of interviewing, hiring and training new office administrators is counterproductive to the growth of a company of any size, and is particularly toxic to a SMB which needs all resources dedicated to building the core of the business.
Vesper offers a unique solution, which results in savings in excess of $30,000 annually for most clients.
The Vesper team takes a consultative approach to learning about your organization's office and administrative needs and dedicates specific Vesper resources as required by your business.
They offer metric-based pricing based on specific tasks and purchasing so you will never need to guess how long it will take to organize the company holiday party, or how much extra the heavy stock holiday cards will cost.
All Vesper employees are trained and experienced in calendar management, inventory management, procurement, event-planning and vendor management, which can be handled remotely, on-site or a combination of both.
Best of all, Vesper's services can ebb and flow with the cyclicality of your business. If your team needs an office manager with "boots on the ground" in Q2 & Q4 but can function with virtual assistance in Q1 & Q3, Vesper will work with you.
Between employment costs, equipment and inventory, Vesper saves most clients in excess of $30,000 annually.
Moreover, with office leasing costs in Manhattan at staggering levels ($12,353 per employee annually, according to JLL's Q3 Research), the ability for companies to have their OM off-site (or partially offsite) only makes Vesper's business model increasingly compelling.
Vesper's win is your win.
If your 30-employee company raises $25M in Series B funding, the future looks bright. Unfortunately, your leverage in negotiating for discounted office supplies is inconsequential.
Fortunately, Vesper works with innumerable NYC-companies between 15-300 employees, and the economies of scale are passed on directly to your business.
Vesper employees -- your dedicated office administrators -- are kept stimulated and happy because they work on multiple projects across various organizations. This means they will also be part of your team for, on average, longer than if you hired an office manager directly.
For now, Vesper operates exclusively in New York City. In 2017 and beyond, look for them to launch in other major cities across the U.S.
For more information on how Vesper could run your office visit getvesper.com or email team@getvesper.com.
Sources: JLL Research, PayScale Human Capital, U.S. Department of Labor.
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