That slimmed down model often means a pared-down management set-up too, structured to embrace external support to complement in-house skills and to access the best people for the jobs that need to be done. 

And with that strategy comes a fundamentally different approach to the way that businesses create their leadership teams, because lean and fast-moving companies are far more reliant than ever on advisers, external experts and specialists to help them steer their strategies and ensure that they comply with legislation, while adopting good governance and good practices along the way. 

Actually, that’s no bad thing. Why not reach out to genuine experts in their area and access that expertise just when you need it? At Bridgehouse Company Secretaries we certainly expect to see far more of this type of approach going forwards, accelerated by the consequences of the Covid-19 pandemic on established businesses and a huge rise in start-ups over the past 12 months. 

But to really get the most from such an approach, the relationship between a company and its Company Secretary consultant should move beyond outsource and become all about resource. 

Far from “people having had quite enough of experts”, as a certain Minister famously declared, in fact businesses have structured themselves in such a way that they are more reliant on advisers than ever. And that’s because they recognise the high level of experience and expertise they can draw upon if they choose the right partner. 

The advantages of an outsourced company secretary resource 

Increasingly, 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 resourcing their Company Secretarial services as and when they need them. It’s easy to see why this approach makes sound business sense. 

Pay for company secretarial services when you need them 

When companies choose to appoint an outsourced Company Secretarial service, they have access to all the support they need at hand, which can be optimised according to demand. The Company Secretary role inevitably has peaks and troughs during the business year, dictated by such fixed calendar dates as financial year-end, statutory reporting deadlines and board meeting schedules. As a result, compared with the longer-term commitment of hiring someone, accessing external resources as and when required can prove extremely cost-effective and provides access to highly experienced consultants. 

Access specialist, high-level company secretarial expertise 

This is where there is a real difference between considering a Company Secretary as a resource rather than an outsource. A Company Secretary brought in to the centre of the business can help ensure that the company has the right people in the right places to meet its business and compliance needs. A Company Secretary can also be used as a resource to ensure that there is a healthy dynamic among the board members, advise on the smooth running of meetings and reporting and act as a sounding board to ensure that everything works in reality. An outsourced Company Secretary can, in fact, be a resource at the heart of the business. 

Company Secretary resource: The best of both worlds 

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 why you have employed them. When the Company Secretary role is retained in-house, the post holder is often juggling numerous other responsibilities as the Company Secretarial role has become ever-more varied and wide-ranging, particularly with increased regulation and a growing desire to ensure good governance and work practices. An overstretched internal Company Secretary can also rely on the capable hands of a professional who can come in and be assigned projects or specific tasks to complete. 

A strong, independent company secretarial and governance voice 

Increasingly, organisations see the value an outsourced Company Secretary brings in terms of independence. 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 and without the conflicts of interest that an employee subject to salary reviews and constrained by interpersonal relationships may have. This means their advice is neutral, can be trusted and, ultimately, leads to improved communication and governance. A strong Company Secretary can also ensure that a business adheres to all its compliance requirements and can act as both an empathetic ear and a strong hand in making sure companies meet their moral and legal obligations. 

Freedom to focus on the core business 

Company Secretarial resources from a professional specialist like Bridgehouse Company Secretaries ensure that the necessary, yet time-consuming, Company Secretarial responsibilities are handled expertly while companies can focus on what they do best, secure in the knowledge that their compliance responsibilities are in good hands and their reputation will be protected. 

We offer a range of corporate governance services to suit businesses of all sizes and types. Contact us on 0845 055 8260 or email [email protected] to see how we can help.