The average number of employees hired by businesses every year varies from roughly 1 to 138. The size of the company has a huge impact on employee hiring.
Hiring an employee, especially as a small business, means you will be paying another salary and taking care of benefits for another person. It’s a big decision.
One role that you may not have filled yet is a company secretary. Are you thinking about getting a secretary for your business?
If you’re considering hiring a company secretary, keep reading below to find out what you should know.
What Is a Secretary?
Although they aren’t often thought of as an integral part of a company, corporate secretaries have one of the most important roles to keep a business running smoothly.
They help a company stay in compliance with statutory regulations and general laws. They also help with the execution of decisions made by the board members or higher-up employees at the company.
In addition to these duties, a company secretary will attend each board meeting and keep records of minutes, important documents, and all briefings.
Another important role of a corporate secretary is to plan these board meetings (and shareholder meetings) ahead of time. They will create agendas to make sure the meeting stays on task. They invite the attendees, reserve the meeting space, and plan for any type of logistical issue that could come up.
Generally, the company secretary will also be in charge of bringing new board members up to speed on what is going on with the company. They can even help with training and orientation as they get started.
As you can see, this role is important for a company that wants to run efficiently.
What Is the Salary of a Company Secretary?
Corporate secretaries can make anywhere from $45,000 to $121,000 per year. The average salary in the United States is about $70,759 per year.
With more experience, a corporate secretary is able to make more money. In addition to that, corporate secretaries can be paid more if they work for companies that are larger or they have more roles assigned to them within that company.
Salary can also be impacted by the cost of living in the area the individual lives and works as well.
How to Become a Company Secretary
As far as education requirements go, a corporate secretary needs to at least have a high school diploma or a GED certification.
An individual may prefer to get a degree in business administration to prove to potential employers that they know what they are doing. About 36% of people in this field have a bachelor’s degree. Administrative certificates are also available to prove knowledge and skill in this area.
What about previous work experience? If someone has previously worked in a law office or has been an administrative assistant, these are great professional experiences that a company will want in their corporate secretary.
Anyone interested in this career path will need to have experience working in the business sector. It is important that they understand corporate laws, strategy, secretarial practices, and general corporate finances because they will advise their company in these areas.
What Characteristics Does a Secretary Need?
Because the responsibilities of a company secretary are so specific and they can vary from company to company, there are many traits that are valuable to make the job easier.
Clearly, because of all of the scheduling and record-keeping, a corporate secretary has to be detail-oriented and have good organizational skills.
Managing one or more people is a good skill for a secretary to have as they will be setting up many meetings and schedules for multiple people.
They also work with a lot of different people every day, so strong verbal and written communication skills are crucial. They may need to have patience as well.
Multitasking is a good characteristic to have since there are always going to be several things that need doing at one time.
As we discussed previously, knowing about the local, state, and national laws and regulations is a must. They have to know how to keep their company protected.
Because there are so many aspects to this role, a good corporate secretary will be good at solving problems. It’s crucial that they can come up with resourceful, creative solutions.
This can be a high-pressure position, so being able to perform with “all eyes on you” is a good characteristic for a secretary as well.
Do I Need to Have a Company Secretary for My Business?
Choosing whether or not a company secretary will benefit your business can depend on several factors, including the size of your company and the type of business you conduct.
The benefits of having a company secretary include:
- Less stress on you to organize and maintain confidential documentation
- Better organization and structure of meetings
- Easier time executing decisions made by the board or CEO
- Fewer tasks, like scheduling or reservations, placed on other employees
Consider the needs of your business. You also want to be sure that a secretary will ease some of the burdens you currently face before adding another employee to your roster.
Learn More About Company Secretaries
Before hiring a company secretary, be sure that you understand their role, duties, and responsibilities.
This way, you know exactly what type of candidate you’re looking for.
Are you interested in learning more about operating your business? If so, be sure to check out our many articles under the Business section and have a successful company today.