Skills and Qualities to Look for When Finding a Company Secretary
A company secretary takes care of all administrative functions and documentation work for the company in which he works. He also has to maintain electronic documents, prepare contracts, agreements, and manage other business connected procedures. Before finding a company secretary for your organization, you should be aware of the skills he should possess and what benefits you derive from hiring such an executive.
The Role of a Company Secretary
The following points will help to understand the role of a company secretary in an organization
- Prepares the minutes of a company’s Annual General Meeting (AGM) or an Extraordinary General Meeting (EGM). He updates company registers and files essential documents with all the relevant authorities
- Takes care of the best interests of shareholders and communicates with them frequently
- Functions as an advisor to the directors and shares information regarding legal procedures or compliance practices, whenever needed
- Manages situations where there are conflicts of interest
- Gives suggestions for conducting a business
- Helps develop corporate strategies
- Gives notice to the Board of Directors
Qualities Needed in an Efficient Company Secretary
You should look for the following qualities when finding a company secretary.
Relevant Experience
If you are a startup company or some other business enterprise, you should verify if the company secretary is experienced in the practices related to your type of business. Remember, he has to do all your required paperwork and administrative procedures.
Ability to Interpret Laws Correctly
He should have a sound knowledge of company laws and excellent interpretation skills for providing proper advice to the management on legal matters whenever required
Knowledge of Modern Technology
A company secretary needs to be adept in the latest digital methods to avoid delays in processing or setting up meetings. He should adopt tools like digital signatures to speed up things and lessen overheads.
Multitasking Ability
The company secretary has to perform many tasks like ensuring compliances or communicating between the Board of Directors and management. He should be capable of handling many tasks at a time after deciding the priority. He has to communicate with the management about what is more important and has to be done first and what he can do later.
Organizational skills
He must have thorough knowledge about the business of the organization and must understand practically about the business processes and the compliance procedures. He will have to bring compliance issues to attention at board meetings and provide appropriate solutions for them.
Planning Ability
He must be good at project management and be able to handle many things at a time. He must ensure that board and committee meetings take place according to schedule. The secretary must also ensure to complete all compliance requirements on time.
Excellent Communication Skills
A company secretary needs to deal with senior members of a company like directors, CEOs, and external stakeholders like investors. He must communicate with them, using diplomacy and excellent negotiation skills. His oral, as well as written communication, must be very good. He has to work in the company’s best interests and provide valuable advice when needed. The secretary must be able to develop good working relationships with all members of the board. He should be easily approachable and have good networking skills. It is his responsibility to ensure good relations with shareholders.
Ability to Make Proper Judgments
The secretary should be able to assess and make judgments properly, especially in situations with conflicting interests. This is particularly necessary since he has to deal with senior people in an organization. He is usually the initial point of contact for any queries and, therefore, should communicate properly with external shareholders, such as investors.
Hidden costs
If you are paying the company secretary an annual fee you need to know all the services included and be aware of any expenses that may crop up over time.
If you are finding a Company Secretary for your business, you should understand clearly what his or her duties are and look for the qualities listed above.to ensure a smooth running of your business processes. 3E Accounting’s team is well experienced in secretarial services and helps startups and other business organizations to deal with all corporate secretarial matters. We are one of the best Company Secretarial Services and have a dedicated team of company secretaries with experience in corporate laws, procedures, and legal documentation.
3E Accounting India
3E Accounting India is a corporate service provider and accounting firm assisting clients with company formation and incorporation. We offer company secretary and business-related services in India.
