Everybody has unique career goals in their mind, but for the students pursuing a degree in commerce, a career as a company secretary can be a rewarding experience. Ideally, company secretaries act as moderators between the regulatory and government authorities, shareholders, and the board of director and their role is to ensure that the compliances of the board are followed regularly and reviewed or revised properly. Apart from this, a CS acts for the chairman and the board directors by offering instructions to them on how to make the best use of their roles and responsibilities depending on the circumstances.
Scope of Company Secretary
The scope of company secretary services in India is becoming huge in the corporate world. It is possible for the aspirants in this field to get an opportunity to work in highly-paid positions in different banks, private and public sectors, various financial institutions, stock exchanges, company law boards, departments of the government, and the Department of Company Affairs. If you are committed towards the work you do, you may come across a wide range of job opportunities after the completion of this course or start an independent practice when you decide to start your own firm. As the role of the corporate secretary is to create a harmonious relationship between the members of the board, you must have a good amount of confidence, diplomatic skills, and social awareness.
The following points highlight some of the misconceptions that prevail about the role of a corporate secretary.
Not viewed beyond the stereotyped role
While discussing the matters related to company incorporation and the other aspects of business operations, the role of the board of directors, the shareholders, and the auditors are brought into focus. Often the company secretary gets little attention, and it appears to a lot of people that the role of this individual is less significant. However, the truth is that the corporate secretary is one of the most important persons in the corporate hierarchy along with the chairman and the CEO. According to a survey, the key role of this individual serving in a company is to build trust among the members of the board, which can lead to healthy governance with respect to the business operations.
As believed by many, the corporate secretary is not the PA or the mandatory positions in a company that are not as glorified as they are projected. Often an individual assigned with work tends to feel that they are not properly appreciated for their service or they are under-utilized. The truth is that an individual working as a corporate secretary is considered a coveted position in a company and maintains a good relationship among the board of directors.
Expected to speak passively
This misconception arises due to the support the corporate secretary receives from the chairman both publicly and directly. It may be that the individual working in this position may use implicit communication and speak subtly on what is expected from them. The company secretary must not have a mere presence during the board meetings and should be allowed to speak and put forth their opinions in different matters of the business especially when the circumstances demand. Their role is not restricted to speaking on things that the chairman or the board members have already decided. The candidates willing to pursue their studies in the field of company law and secretarial service must try to find out the evolving role of these individuals in a company instead of forming opinions beyond any reason.
Providing inaccurate information
Some of the business owners who believe that the corporate secretarial services are only hired because it is a legal requirement for company incorporation must rectify themselves. Contrary to this belief, the corporate secretary is not limited to working on regular administrative duties, but they are needed to look into the matters related to compliance with respect to the regulatory requirements of the company as it requires them to provide precise, high level, and accurate information. However, companies focus on hiring trained individuals for this role.
Obtaining a holistic picture
When the company secretary gets little support to complete the business tasks that are mandatory or for the implementation of the company processes, it results in a restricted view of the long-term consequences of the role. However, when the stakeholders allow the CS to assume a proactive role, it is easy to stay away from these misconceptions. Ideally, the CS can handle tasks beyond the duties of the administration that have positive and long-term consequences.
Viewing the role correctly
Beyond the misconceptions, the company secretary must try to perceive the role properly and add reliance and trust to it. It is not just proving the misconceptions wrong, but believing in the contributions of this individual to the company that matters in the end. There is no doubt that it is one of the best paid jobs in India, but the actual package is going to depend on the abilities of the individual.