Want the best kept secret for high-performing companies?
Take away their leader, and you’ll find an entire team of support professionals who ensure everything functions like clockwork.
Behind every effective chief executive officer (CEO)…
Is a chartered secretary and executive assistant duo handling critical tasks.
Unfortunately…
The vast majority of businesses neglect these roles and their importance. Companies spend all of their time and money marketing to the public and releasing new products. But what you’re selling will fall flat without proper governance, compliance, and administration.
Here’s what you can learn:
- Why CEO Support Positions are MORE Important Than Ever Before
- Chartered Secretaries: Behind Every Great Leader
- Executive Assistants Are Like Gold
- Build Your Support Dream Team
Why CEO Support Positions are MORE Important Than Ever Before
Times are changing.
In the first quarter of 2024, 622 CEOs publicly announced their intent to depart from their respective organisations. According to Challenger, Gray & Christmas, this indicates a 48% YoY increase in CEO turnover.
CEOs are leaving at unprecedented rates, and someone has to be ready to step in when they do.
Corporate governance doesn’t stand still either.
Boards of directors are continually adapting to new regulations on AI, sustainability, and how they report to shareholders. Someone has to stay on top of these changes.
That “someone” should be dedicated support roles.
Support positions aren’t “nice-to-haves” on your leadership team. Companies with professional secretaries and executive assistants excel far beyond their competitors who try to divide these responsibilities between senior leadership.
Chartered Secretaries: Behind Every Great Leader
Chartered secretaries are known as the guardians of governance.
Let’s break down why…
Chartered secretaries are responsible for tasks such as coordinating board meetings, maintaining company records, and ensuring companies comply with their legal obligations. Not only do they have to understand the laws a business operates under, but they also ensure shareholders are satisfied.
Finding qualified chartered secretaries in Singapore is an excellent way to strengthen your team. Here’s how they benefit any organisation:
- Keep all legal documentation in order
- Advise company boards on matters of governance
- Ensure your company abides by required regulations
- Act as a liaison between company management and shareholders
Qualified chartered secretaries are hard to come by. When you find an individual with that many years of experience under their belt, you know they can directly impact your business’ bottom line.
Not only this but the role of a chartered secretary has grown tenfold within the last decade. Previously they would take meeting notes and file important documents. Today, they advise some of the highest levels of leadership and help steer companies in the right direction.
Ask yourself…
When a new law or regulation is passed, who makes sure your company conforms to the changes? Who guides your board of directors on proper governance? Chartered secretaries take care of everything mentioned above and more.
Your company can not:
- Meet deadlines
- Remain organised
- Keep up with ever-changing regulations
- Support your board of directors
Without a qualified chartered secretary on your leadership team.
Executive Assistants Are Like Gold
Did you know there are over 304,000 executive assistants in the United States?
These individuals are the real MVPs (most valuable players).
Executive assistants used to be your traditional secretary. They scheduled meetings, managed business travel, and took meeting notes. Today, executive assistants do so much more than that. With the shift to hybrid and remote work environments, EA’s really stepped up their game to keep executives even busier.
Here are a few reasons why:
Executive assistants are now responsible for project management, data analysis, and some even assist with strategic planning. Their role requires knowledge on various topics ranging from technology to communication.
When everyone is working remotely, you have to have someone synchronise time zones for global meetings. Someone has to manage your virtual workflow. Executive assistants fit this role perfectly.
Here’s the kicker…
EA’s help their executives manage their time? Many executive assistants are so skilled at what they do that they save their boss a few hours each day. Imagine what your executives could do with an extra 2–3 hours? They will spend that time driving the company forward.
Here’s what your executive assistant brings to the table:
- Time management – keeps your CEO moving throughout the day
- Communication – filters information that reaches your executive
- Technical skills – knows how to use every tool in the book
- Problem-solving – they stop small problems from becoming big problems
Executive assistants are continuing to learn new skills as AI tools take over the workplace. These professionals use technology to their advantage and automate repetitive tasks. As they progress in their careers, EA’s will become even more valuable to your company.
Smart companies know this and pay their EA’s above-average salaries with opportunities to grow within the company. In return, they’re granted loyal employees that know the ins and outs of your business.
Build Your Support Dream Team
How do you build a strong support foundation?
By first recognising that these positions aren’t expenses. Your chartered secretaries and executive assistants are investments that will return value to your company if done right.
Here are 4 steps to build your dream support team:
Step 1: Identify Areas of Improvement
Look at your leadership team. Where are they spending their time? Oftentimes, executives get caught up in menial tasks that could be delegated to someone else. Automation software allows CEOs to outsource administrative tasks. Executive assistants take care of anything that software can’t.
Step 2: Focus on Governance
This cannot be stressed enough. Governance is crucial to your company’s success. If you don’t have qualified individuals handling compliance and board support, you’re putting your entire company at risk. Not only will you miss deadlines and tarnish your reputation.
Proper governance allows companies to do the following:
Attracts investors – nobody wants to fund a company that doesn’t take compliance seriously.
Steps 3 & 4: Train and Develop Employees
All individuals in support positions should be trained regularly and given opportunities to develop their careers at your company. Whether it be new regulations or software, your support team should know how to use it before anyone else.
Build a career path for your support professionals. They will be more likely to stay and want to grow if your company allows them to do so.
Here’s the thing…
Companies fail because they don’t have enough support and wonder why tasks aren’t getting completed. Board meetings are unorganised. Important deadlines are constantly being missed. CEOs aren’t as productive as they could be.
Don’t fall victim to the same mistakes.
If you want your company to succeed in the future, you need to have a strong foundation. Part of that foundation are dedicated support professionals that take care of tasks so your leadership team can focus on what truly matters.
Conclusion
One final thought:
Every great CEO has a chartered secretary and executive assistant.
The research speaks for itself. CEO turnover is at an all-time high. Regulations are constantly changing. As businesses evolve, so will support positions.
These roles won’t become flashy and make headlines. But they sure as hell deserve recognition for keeping your business up and running.
Ask yourself, are you investing enough in your support staff?