Company Secretarial recruitment market review Q4 2021
It’s not an exaggeration to say that the role of the Company Secretary has never been in greater demand. Vacancy levels have increased month on month since March, but now ‘fill rates’ have slowed somewhat due to the shortage of candidates that is becoming apparent at all levels.
With the conclusion of the Department for Business, Energy and Industrial Strategy (BEIS) consultation and its wide-ranging proposals for improving audit and corporate governance, the new regulator is being established, the Audit, Reporting and Governance Authority (ARGA).
Consequently, boards are leaning heavily on their Company Secretary and Secretariat team. With the majority of changes expected to come in by 2023, this has put additional pressure on resources. The extensive new powers of the regulator to enforce corporate governance standards and hold directors accountable has put the company secretarial function firmly in the spotlight.
Key advice for the coming months:
- Firstly, focus on retaining your best team members – understand their drivers, make sure they are being remunerated correctly and let them see their development within your organisation rather than outside.
- Be realistic – it’s a jobseeker’s market right now. When you do need to recruit – look at developing individuals into a role rather than focusing on their immediate ‘value-add’; this makes your opportunity a far more compelling option.
Please do reach out to us if we can offer any advice or assist you with any temporary or permanent recruitment over the coming months.