More and more, many businesses are realising they do not need to commit to adding an extra head to the payroll, whether full or part-time, and are instead choosing outsourced company secretarial services as and when they need them. And it’s easy to see why this approach makes sound business sense.
- Pay only for the services you need – When companies opt for outsourced company secretarial services they have access to all the support they need on tap, which can be turned up or down according to demand. The company secretary role has definite peaks and troughs dictated by such variables as financial year-end, statutory reporting deadlines and meeting schedules so compared to the longer-term commitment of hiring someone, simply buying in external resources as and when required can prove extremely cost-effective.
- Specialist expertise – When the company secretary role is retained in-house, the post holder is normally juggling numerous other responsibilities as the company secretarial role is ever more varied and wide-ranging, particularly with increased regulation and a growing desire to ensure good governance. It is becoming increasingly common for an overstretched company secretary to rely on the capable hands of a professional who can come in and be assigned projects or specific tasks to complete, enabling them to cross pressing jobs off their checklist.
- Focused support – There are only so many hours in the day and even the most well-intentioned individual can be tempted to leave certain governance tasks on a rapidly growing To Do list. While certain duties can happily languish on the list for weeks or even months, many cannot – at least not without serious repercussions. Unlike an in-house company secretary who will typically have many competing demands on their time, when you bring in an external professional they are utterly focused on the task in hand – after all, that is what you are paying them to do.
- Independent viewpoint – Some organisations value an outsourced company secretary for the independence they bring. This can be of real benefit, for example, when the company secretary acts as a bridge between management and the board, guiding directors through contentious issues objectively without the conflicts of interest that an employee subject to salary reviews and constrained by interpersonal relationships may have. This means their advice can be trusted and, ultimately, leads to improved communication and governance.
- Freedom to focus on core business – Choosing outsourced company secretarial services from professionals like Bridgehouse Company Secretaries means that the necessary yet time-consuming company secretarial responsibilities are handled expertly whilst companies can concentrate on what they do best, secure in the knowledge their compliance responsibilities are in good hands and their reputation protected.