Companies in Singapore use the services of a secretary to handle correspondence and show details on their company and personal accounts. This saves the company from having to employ someone full-time to do this task, and it also shows off how efficient the company is run. If you are planning to start your own company in Singapore, or are thinking of starting one, you must be aware of company secretarial services fees. Here are some things that you should keep in mind.
The first thing that you should know about company secretarial services fees is that they vary according to the level of coverage that you will need. A simple, basic plan will cost less than a more detailed plan. The detail that is covered varies according to what type of company you run. Some types of company secretarial work require that the company secretary actually type out letters and documents, while others only require that the secretary send emails or documents.
You will notice that there are two different types of service plans for secretarial services. They are the hourly rate and the per minute rate. For companies that have fewer employees, it is advisable for them to go with the hourly rate since it can work out cheaper when they have fewer numbers of employees. If you have a bigger company, it is advised that you take the per minute rate since it can actually help you calculate your expenses better.
Many companies act as their own virtual secretary and this is done by paying them a certain amount for every hour of work that they need done. You will notice that the bigger companies will actually hire a full-time secretary to cover their business. However, since these companies are more popular and can afford to pay their own secretary, they do so. This is why most big companies will state their rate for company secretarial services when you ask for their services. The secret is that they are only charging them this much since it is not as difficult as finding another individual to do the same job.
The companies that can actually afford to pay their employees more for company secretarial services are the ones that operate in different countries and have many employees. If you are a Malaysian secretary, then you should know that getting an annual return from your employer is a must in order to stay competitive in your field. This is why most employers request for a one-time fee so they can get the entire package. Here are some reasons why they do this:
A one-time fee will cost less than if you were to pay for a number of hours ago. If you want to stay competitive in your job, then you do not have any other option but to find ways to reduce your costs. This includes getting company secretarial services so you can keep up with your workload. You will be able to show details to your employer about how many hours you have worked in the past so they will know if you are still able to give it your all. If your employer knows the number of hours you worked in the past, then they will know how much hours you need to work now in order for you to reach the required workload.
Another reason why they will ask for an annual or one-time fee is because it will cost them less money than if they hire a new staff for the same job. Hiring a new member will cost them several thousand ringgits compared with paying for a one-time secretarial retainer fee for a company secretarial services package. Most companies will also add this to the total annual salary of the new staff.
Here is the reason why you need to consider your expenses carefully even if you are getting a great deal from the corporate secretarial services. If you are working on the contract basis then you need to be extra careful in handling your expenses because most of the time, the company will not charge you anything for the services provided. However, if you are working for an hourly rate then you should be prepared to shell out some extra cash just to help your employer achieve his goals. Now that you know this, be smart enough to handle the situation. Do not think that because you have already worked with a few clients before that you are exempt from paying for anything.