That nothing ever stays the same may be a cliché but it is one which is as true in business as it is in the wider world. New products, new technologies and new legislation continually challenge the status quo and even without external factors there is always the customer relationship to nurture as tastes and needs change.
It’s hardly surprising therefore that organisational development is virtually a permanent fixture on the ‘to do’ list of many Boards. Whether looking to drive the business forward or reacting to external forces it is a rare business which can afford to rest unchanged for any length of time. But this can create a dilemma for the executive, particularly in smaller businesses. Just how do you manage the day to day challenges of running the business and still have time to work on strategy and organisational development?
Take company secretarial duties for example. No matter what the size of company there are certain statutory duties which have to be completed if the company is to remain within the law. Maintaining company records, maintaining statutory registers, filing company accounts and returns all have to be slotted into the day to day routine. Individually they may not seem onerous but they are an intrusion into time which the executive may prefer to spend in more proactive duties.
One solution is to outsource as much of the statutory work as possible. It is not unusual for smaller companies to outsource their payroll calculations and reporting to their accountants or to a specialist payroll bureau. In the same way, outsourcing company secretarial duties can free up time whilst helping to ensure that statutory return deadlines are not missed in the press of other duties.
Whether you are a company secretary or a director, aside from statutory duties your key role is to promote the success of the company. Whilst part of that duty will arise from day to day interactions with third parties, with customers and through overseeing employees, the duty can only be fully discharged if the executive pay ongoing attention to developing the long term future of the company. The old adage that leaders should spend 20% of their time working in their company and 80% of their time working on their company may not be fully realisable in a smaller organisation; but it is still true that working on the organisation, creating a development strategy which will meet the needs of the ever-changing marketplace is something which no director can afford to ignore.
If you would like to find out more about company secretarial duties and the duties of directors feel free to browse our website www.elementalcosec.com or contact Nick on info@elementalcosec.com.
