Career opportunities as a Company Secretary
The career opportunities for a qualified Company Secretary are increasing as the economy is growing and new and more companies are entering the market. As per law all the public limited companies beyond a particular size are required to appoint a qualified company secretary who is generally a senior officer of the management. The role of company secretary is that of an advisor to the management regarding complex legal, regulatory as well as business and financial matters. Increasingly the roles of finance and company secretary are also getting merged and in many a company the same person is handling the two jobs, increasing his profile in the management.
Eligibility
One can become a company secretary only after passing the final examination conducted by the Institute of Company Secretaries of India, ICSI House, 22 Institutional Area, Lodhi Road, New Delhi 110 003. CS course can be pursued in two ways. If you want to pursue the course after graduation, then you need to have a minimum degree of commerce with 50% marks. If you are a Science or Arts graduate, then you should have scored a minimum of 60% or more at the graduation stage, other graduates are eligible if they have an aggregate of 65% or more at the graduation stage. Those who do not have the minimum entry required or who want to pursue the course immediately after their class 12th examination have to appear in the Foundation Exam conducted by the institute.
Examination is conducted twice a year and all the course material is given by the institute. This is one of the most cost effective courses in the field of corporate law and finance.
Examination hurdle
The main entrance exam for CS is the Foundation Exam. The subjects include theoretical aspects of law, Economics and accountancy. Once you have passed the CS Foundation exam, you are eligible to become a CS student under the ICSI. There are two stages after that. First is Intermediate and the second is Final. You have to clear both the stages to be called a professional CS. Once you pass out of the institute, you are called ACS or an Associate member of the institute. With additional experience, you become FCS or fellow member of the institute.
Aptitude
Academic excellence, willingness to study extremely hard, keeping oneself abreast of latest changes in law and statutory requirements, aptitude for law and basic finance and taxation, time management, ability, decision making, analytical bend of mind, working under pressure and meeting stiff deadlines, determination and self motivation are the key requirements to be successful in the profession.
Job Prospects
CSs are highly paid professionals. The boom in the economy has led to further demand for the professionals. They are needed in various sectors and industries such as manufacturing, service, as also in financial sector, capital market, banking etc. Today a fresh CS can expect a starting pay of Rs. 25000/- and more and it can go up to 50000/- within 2-3 years of experience. Most of the companies pay a very good premium to the qualification and offer incentives to retain the right people. As an eye and ear to the Board, a CS is one of the most promising career opportunities for professionals
Information Fact sheets
The role of the company secretary
The advent of the Companies Act 2006 has brought about a number of changes for companies. One such change is that private companies can choose whether to have a company secretary or not. This choice was available from 6 April 2008.
In this fact sheet, we outline the company secretarial matters which need to be dealt with by your company under the Companies Act 2006, whether you have officially appointed a company secretary or not.
Do All Companies Need a Company Secretary?
As noted above, there is no longer a requirement for all companies to have a company secretary.
As of 6 April 2008, private companies (Ltd) are no longer required to appoint a company secretary although the option to appoint one remains.
All private companies, whether they appoint a company secretary or not, will still have to ensure they comply with a number of statutory requirements.
Even after 6 April 2008 public limited companies (plc) must have a company secretary with specialist
If you Choose to Have One, How Should the Company Secretary be Appointed?
Any changes to the particulars of the company directors or secretary, for example, changes in their name or address, must be notified to Companies House using a standard form - 288c. When a director or company secretary resigns, form 288b must be completed and sent to Companies House. When a new director or secretary is appointed, form 288a should be used.
The Status and Liability of the Company Secretary
The company secretary is an officer of the company. This means that they may be criminally liable for defaults committed by the company, for example, failure to file in the time allowed, any change in the details of the company’s directors and secretary and the company’s annual return.
The Duties of the Company Secretary
Private company without an appointed company secretary
The duties of the person responsible for company secretarial matters are not defined specially within company law. However, these may be divided generally into three main areas:
Maintaining statutory registers
Completing and filing statutory forms
Meetings and resolutions.
Public company or private company with an appointed company secretary
If your company has a company secretary appointed, the company secretary will have the following duties laid down by the Companies Act 2006:
The duty to keep a register of secretaries
The duty to notify the registrar of any changes.
Although it is a firm owner who profits when our clients hire new employees from firm, I feel compelled to say that many times businesses are better off if they promote from within.
Here's why. Often internal or current employees can make the best available candidates because they are already familiar with your company and successful within your culture. The most common reason heard for not promoting a current high-performing employee is that the employee does not have enough of the right experience and/or has a certain flaw or two. That leaves hiring managers with two choices:
1) Hire a proven quality employee who fits into your company culture but who has a couple of known flaws or gaps in his or her experience; or
2) Hire an unproven employee who interviews well but who may have a couple of flaws that you don't yet know about.
How often hiring managers choose the latter. Not always, but in my experience more often than not, hiring managers would be better off investing time in closing the gaps in experience of the existing employees as they promote these people.
The baseball world offers a great example of the differences between investing in young talent versus bringing in "hired guns." Consider the Red Sox' development of Jonathan Papelbon and Jacoby Ellsbury, for example, versus the acquisitions of Eric Gagne and Matt Clement. Most would agree that the first pair of players, groomed by the team's minor league system, has had far more success in the organization than the two brought in from the outside. Some franchises, like the Red Sox, realize it's smarter to channel their payroll toward developing younger players and prospects instead of overpaying veterans for splashy, "quick fix" signings.
Benefits of promoting from within
In the business world, promoting from within can provide benefits in several areas:
Recruiting - Being known as an employer who offers opportunities for career advancement is attractive to prospective hires. Interviewees are impressed when they meet employees who've steadily moved up the ranks.
Retention - When new employees see that opportunities exist for them and that there's a track record of hiring from within, they tend to stay longer with your company.
Cost savings - The cost of recruiting, interviewing, and on boarding new employees can outweigh the cost of training current employees for certain new skills. It can take internal candidates much less time to become effective in a new position because they are already familiar with the company culture and its goals.
Flexibility - Newly promoted staff can assist with training their replacements. They are available for questions and can occasionally fill in at their old position if needed in emergencies.
Culture fit - Existing employees fit in with the company culture (or else I assume you would not be promoting them). Conversely, despite the most probing interview questions, you're never positive about whether a new hire will be a good culture fit or not.
Making it part of your hiring strategy.
To incorporate promoting from within as a part of your company's hiring strategy, consider taking the following steps:
Encourage a promoting-from-within culture - Promoting from within can take on a momentum of its own. Employees who've moved up the ranks are more likely to want to promote other internal candidates and this approach becomes part of your company culture. Empower employees who have been promoted to talk about "where they came from" and to encourage new employees to aspire to be promoted.
Build a process to make promoting from within successful - Offer opportunities for training and development and mentor relationships. Make sure you regularly discuss performance and career goals and offer compensation that matches these goals.
Educate managers on the benefits of promoting from within - Hiring managers may have the burden of helping the newly promoted employee learn new skills, or perhaps they will need to retain certain aspects of the job while the newly promoted employee comes up to speed. Accordingly, it pays to have managers bought into the hiring approach.
Proactively identify prospects for promotion - Look at job performance as well as ambition, teamwork, and motivational skills.
Consider internal candidates first - Start your job searches by considering internal candidates first, before you look outside your organization.
Take a chance - Offering a promotion to a quality employee who may not have all of the right experience but who has proven him/herself in their current job is often a chance worth taking.
While promoting from within isn't the answer 100 percent of the time, it tends to be underutilized as an effective solution for candidate shortages. Giving current employees more opportunities for advancement can be a win-win situation for everyone.
Note:
Excellent National / International [World wide] Opportunities to work from Home / Office in Part / Full / Week end Time for Unlimited, Genuine, Constant, Legal, Regular Income. Suitable for Old age / Retired / Disabled persons, Teachers, Students, Job seekers, Business persons, House wives, Office goers, Employed / Self employed / Un employed. If interested visit http://www.365jobs4u.com/idevaffiliate/pages/960.php
The career opportunities for a qualified Company Secretary are increasing as the economy is growing and new and more companies are entering the market. As per law all the public limited companies beyond a particular size are required to appoint a qualified company secretary who is generally a senior officer of the management. The role of company secretary is that of an advisor to the management regarding complex legal, regulatory as well as business and financial matters. Increasingly the roles of finance and company secretary are also getting merged and in many a company the same person is handling the two jobs, increasing his profile in the management.
Eligibility
One can become a company secretary only after passing the final examination conducted by the Institute of Company Secretaries of India, ICSI House, 22 Institutional Area, Lodhi Road, New Delhi 110 003. CS course can be pursued in two ways. If you want to pursue the course after graduation, then you need to have a minimum degree of commerce with 50% marks. If you are a Science or Arts graduate, then you should have scored a minimum of 60% or more at the graduation stage, other graduates are eligible if they have an aggregate of 65% or more at the graduation stage. Those who do not have the minimum entry required or who want to pursue the course immediately after their class 12th examination have to appear in the Foundation Exam conducted by the institute.
Examination is conducted twice a year and all the course material is given by the institute. This is one of the most cost effective courses in the field of corporate law and finance.
Examination hurdle
The main entrance exam for CS is the Foundation Exam. The subjects include theoretical aspects of law, Economics and accountancy. Once you have passed the CS Foundation exam, you are eligible to become a CS student under the ICSI. There are two stages after that. First is Intermediate and the second is Final. You have to clear both the stages to be called a professional CS. Once you pass out of the institute, you are called ACS or an Associate member of the institute. With additional experience, you become FCS or fellow member of the institute.
Aptitude
Academic excellence, willingness to study extremely hard, keeping oneself abreast of latest changes in law and statutory requirements, aptitude for law and basic finance and taxation, time management, ability, decision making, analytical bend of mind, working under pressure and meeting stiff deadlines, determination and self motivation are the key requirements to be successful in the profession.
Job Prospects
CSs are highly paid professionals. The boom in the economy has led to further demand for the professionals. They are needed in various sectors and industries such as manufacturing, service, as also in financial sector, capital market, banking etc. Today a fresh CS can expect a starting pay of Rs. 25000/- and more and it can go up to 50000/- within 2-3 years of experience. Most of the companies pay a very good premium to the qualification and offer incentives to retain the right people. As an eye and ear to the Board, a CS is one of the most promising career opportunities for professionals
Information Fact sheets
The role of the company secretary
The advent of the Companies Act 2006 has brought about a number of changes for companies. One such change is that private companies can choose whether to have a company secretary or not. This choice was available from 6 April 2008.
In this fact sheet, we outline the company secretarial matters which need to be dealt with by your company under the Companies Act 2006, whether you have officially appointed a company secretary or not.
Do All Companies Need a Company Secretary?
As noted above, there is no longer a requirement for all companies to have a company secretary.
As of 6 April 2008, private companies (Ltd) are no longer required to appoint a company secretary although the option to appoint one remains.
All private companies, whether they appoint a company secretary or not, will still have to ensure they comply with a number of statutory requirements.
Even after 6 April 2008 public limited companies (plc) must have a company secretary with specialist
If you Choose to Have One, How Should the Company Secretary be Appointed?
Any changes to the particulars of the company directors or secretary, for example, changes in their name or address, must be notified to Companies House using a standard form - 288c. When a director or company secretary resigns, form 288b must be completed and sent to Companies House. When a new director or secretary is appointed, form 288a should be used.
The Status and Liability of the Company Secretary
The company secretary is an officer of the company. This means that they may be criminally liable for defaults committed by the company, for example, failure to file in the time allowed, any change in the details of the company’s directors and secretary and the company’s annual return.
The Duties of the Company Secretary
Private company without an appointed company secretary
The duties of the person responsible for company secretarial matters are not defined specially within company law. However, these may be divided generally into three main areas:
Maintaining statutory registers
Completing and filing statutory forms
Meetings and resolutions.
Public company or private company with an appointed company secretary
If your company has a company secretary appointed, the company secretary will have the following duties laid down by the Companies Act 2006:
The duty to keep a register of secretaries
The duty to notify the registrar of any changes.
Although it is a firm owner who profits when our clients hire new employees from firm, I feel compelled to say that many times businesses are better off if they promote from within.
Here's why. Often internal or current employees can make the best available candidates because they are already familiar with your company and successful within your culture. The most common reason heard for not promoting a current high-performing employee is that the employee does not have enough of the right experience and/or has a certain flaw or two. That leaves hiring managers with two choices:
1) Hire a proven quality employee who fits into your company culture but who has a couple of known flaws or gaps in his or her experience; or
2) Hire an unproven employee who interviews well but who may have a couple of flaws that you don't yet know about.
How often hiring managers choose the latter. Not always, but in my experience more often than not, hiring managers would be better off investing time in closing the gaps in experience of the existing employees as they promote these people.
The baseball world offers a great example of the differences between investing in young talent versus bringing in "hired guns." Consider the Red Sox' development of Jonathan Papelbon and Jacoby Ellsbury, for example, versus the acquisitions of Eric Gagne and Matt Clement. Most would agree that the first pair of players, groomed by the team's minor league system, has had far more success in the organization than the two brought in from the outside. Some franchises, like the Red Sox, realize it's smarter to channel their payroll toward developing younger players and prospects instead of overpaying veterans for splashy, "quick fix" signings.
Benefits of promoting from within
In the business world, promoting from within can provide benefits in several areas:
Recruiting - Being known as an employer who offers opportunities for career advancement is attractive to prospective hires. Interviewees are impressed when they meet employees who've steadily moved up the ranks.
Retention - When new employees see that opportunities exist for them and that there's a track record of hiring from within, they tend to stay longer with your company.
Cost savings - The cost of recruiting, interviewing, and on boarding new employees can outweigh the cost of training current employees for certain new skills. It can take internal candidates much less time to become effective in a new position because they are already familiar with the company culture and its goals.
Flexibility - Newly promoted staff can assist with training their replacements. They are available for questions and can occasionally fill in at their old position if needed in emergencies.
Culture fit - Existing employees fit in with the company culture (or else I assume you would not be promoting them). Conversely, despite the most probing interview questions, you're never positive about whether a new hire will be a good culture fit or not.
Making it part of your hiring strategy.
To incorporate promoting from within as a part of your company's hiring strategy, consider taking the following steps:
Encourage a promoting-from-within culture - Promoting from within can take on a momentum of its own. Employees who've moved up the ranks are more likely to want to promote other internal candidates and this approach becomes part of your company culture. Empower employees who have been promoted to talk about "where they came from" and to encourage new employees to aspire to be promoted.
Build a process to make promoting from within successful - Offer opportunities for training and development and mentor relationships. Make sure you regularly discuss performance and career goals and offer compensation that matches these goals.
Educate managers on the benefits of promoting from within - Hiring managers may have the burden of helping the newly promoted employee learn new skills, or perhaps they will need to retain certain aspects of the job while the newly promoted employee comes up to speed. Accordingly, it pays to have managers bought into the hiring approach.
Proactively identify prospects for promotion - Look at job performance as well as ambition, teamwork, and motivational skills.
Consider internal candidates first - Start your job searches by considering internal candidates first, before you look outside your organization.
Take a chance - Offering a promotion to a quality employee who may not have all of the right experience but who has proven him/herself in their current job is often a chance worth taking.
While promoting from within isn't the answer 100 percent of the time, it tends to be underutilized as an effective solution for candidate shortages. Giving current employees more opportunities for advancement can be a win-win situation for everyone.
Note:
Excellent National / International [World wide] Opportunities to work from Home / Office in Part / Full / Week end Time for Unlimited, Genuine, Constant, Legal, Regular Income. Suitable for Old age / Retired / Disabled persons, Teachers, Students, Job seekers, Business persons, House wives, Office goers, Employed / Self employed / Un employed. If interested visit http://www.365jobs4u.com/idevaffiliate/pages/960.php
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