It was assumed that as technology became more prevalent in the business world, the function of company secretaries would decrease. Time has demonstrated that the exact opposite is true. In the approximately 20 years since computers were introduced in workplaces, the role of company secretaries has grown considerably.
What is a company secretary?
The company secretary occupies a key strategic position with significant power at the core of an organization's governance processes.
Company secretaries have a broad skill set, including corporate law, finance, governance, strategy, and corporate secretarial practice, and they advise a company's board in these critical areas, assisting the Chair, CEO, and non-executive directors.
You will obtain the following benefits from becoming a company secretary:
- Connect to a wide range of different job positions in a variety of industries.
- A wide range of responsibilities.
- A fast track to high-level positions, including collaboration with the board.
- The ability to earn six-figure salaries
- The chance to work abroad.
Where are company secretaries employed?
Company secretaries work in a variety of organizations across all sectors, including private companies, government agencies, and non-profit organizations.
Some provide company secretarial services to a variety of clients for a fee while working for professional services firms, operating as sole professionals, or in small partnerships.
What is the role of a company secretary?
Depending on the level of the position, the size of the company, and the industry it serves, a company secretary's specific duties change. However, common responsibilities include:
- Helping the chair and board understand their obligations under the laws and rules to that they are subject, as well as how to fulfil those duties.
- Supporting the chair in making sure that the board operates efficiently and effectively.
- Ensuring effective communication among the board's committees, senior management, and non-executive directors, facilitating induction, and as necessary, providing support for professional development.
- Keeping the board updated on the views of the shareholders while upholding good relations with the shareholders.
- Creating and supervising systems to make sure the company cooperates with all applicable regulations, as well as its legal and constitutional responsibilities.
- Keeping track of modifications to pertinent laws and legal frameworks and acting accordingly.
- Maintaining legally enforceable books, such as member, director, and secretary registers; managing day-to-day operations of the company; planning board and annual general meetings, setting agendas, and taking minutes.
- Legally responsible for establishments, facilities, human resources, insurance, investor relations, administration of pensions, and share registration.
What is the average salary for a company secretary?
Depending on your location, industry, and type of employer, your salary as a governance professional will vary, as it does for many other occupations. In the corporate sector, trainees can predict earning an average of £24,000–30,000, and in the public sector and not-for-profit organizations, £20,000–26,000. This can range from £80,000 to £300,000 for a skilled and knowledgeable company secretary. Similarly, In India Company Secretary's salary ranges from 2.7 Lakhs to 17.1 Lakhs with an average annual salary of 6 Lakhs based on 8.1k salaries with less than 1 year of experience.
Additionally, a lot of organizations provide study help and support by covering exam and tuition costs and allocating time for study. Look at the yearly surveys created by specialized recruiters to learn more about the wages for governance professionals in other nations.
Could you work as a company secretary?
- We believe that a career as a company secretary is an excellent choice for anyone who:
- Has a passion for or understanding of corporate law and/or governance.
- Have a high level of influence on coworkers.
- Highly detailed oriented.
- Can write concisely and clearly.
- Able to process a lot of information at once.
- Is reliable and keeps sensitive information private.
What Skills does Company Secretary have?
Today's company secretaries need to demonstrate several additional skills that can be broadly categorized:
Excellent communication skills:
Company secretaries must be skilled at negotiating and influencing, and exercising authority because they deal with moral, legal, and sensitive issues concerning the companies with which they work. They also interact with high-ranking stakeholders, senior executives, CEOs, and others regularly. The way he or she communicates, what they can interact with, and the impression they make all have a big impact on the company. Excellent communication skills and the capacity to think creatively and quickly are, therefore, essential traits.
Organizational skills:
To communicate with other businesses or organizations, an organization uses a company secretary as its point of contact. As a result, they are frequently involved in multiple initiatives at the same time, which can easily lead to confusion if not properly managed. As a result, they must be well organized and capable of successfully implementing corporate policies and procedures.
Responsiveness:
A company secretary serves as an organization's point of contact for communications with other companies or groups. They frequently participate in several initiatives at once as a result, which, if poorly managed, can quickly confuse them. They must therefore be well-organized and able to effectively implement company policies and procedures.
Multitasking skills:
A company secretary must balance many tasks at once, such as meeting preparation, corporate governance compliance, and facilitating communication between management and the board of directors, among others. As a result, anyone aspiring to be a company secretary must be capable of multitasking.
Proficiency with specific computer software- Nowadays, every organization places a significant amount of reliance on programs like Microsoft Word and Excel for daily operations. Some companies, especially IT departments, use single sign-on portals to access all apps. A company secretary needs to be proficient in all of the software that the company uses. A company secretary is accountable for ensuring that all business operations adhere to all applicable laws, regulations, and moral standards. They play a significant role in the organization's strategy and decision-making. The board of directors must be advised by a company secretary on appropriate ethical and corporate behaviour standards as well as the ramifications of their decisions.
Conclusion
Within a company or office, the secretary plays a variety of roles. The company secretary is responsible for verifying the necessary compliances; frequently, their duties overlap with those of the compliance officer. Therefore, you should carefully consider all the relevant points when seeking information about what a company secretary does.
Now, if you're interested in learning more about what a company secretary is and what their duties are, you can visit Lawgical India. This is a one-stop company for everything related to businesses, law, registrations, liabilities, etc. To learn more about company secretaries and their roles, you can visit our website. Consult our support staff in Lawgical India for the most important information.
