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In the dynamic business environment of the Nordics, growth companies and entrepreneurs are increasingly seeking strategic guidance without the formality and obligations of a full board of directors. This is where the advisory board model comes into play—offering agility, external insight, and sparring power to leadership teams navigating growth, internationalization, or transformation.
At InHunt, we’ve witnessed firsthand how advisory boards can unlock value when built with intention and clarity. But forming a strong advisory board isn’t just about gathering experienced names around the table—it’s about understanding your business phase, identifying the gaps in your current leadership’s thinking, and matching those with advisors who bring the right mix of experience, networks, and mindset.
Case Study: Metso’s Women’s Leadership Forum
A compelling example of the advisory board model in action is Metso’s Women’s Leadership Forum, which has been operational since 2024. This initiative empowers women in leadership roles within Metso and the broader industry. By adopting the InHunt Advisory Board model—including the Ambassador concept—Metso has created a structured platform for strategic dialogue, mentorship, and leadership development.
Read more about the Metso case here: https://inhunt.fi/2024/04/inhuntin-advisory-board-toimintamalli-taydentyy-uudella-konseptilla-ambassadorilla/
The Ambassador role serves as a bridge between the advisory board and the organization’s leadership, ensuring that insights and recommendations are effectively communicated and implemented. This approach has helped drive progress in promoting diversity and inclusion within Metso’s leadership ranks.
Key Principles for Building an Effective Advisory Board
Clarity of Purpose: Define what you really want from your advisory board. Strategic guidance? Market access? A sounding board for the CEO? One size doesn’t fit all.
Chemistry and Courage: Choose advisors who are not afraid to challenge—constructively. Nordic cultures value consensus, but progress often requires friction.
Structure Matters: There needs to be a rhythm to meetings, clear agendas, and ownership from the leadership team to make advisory work impactful.
Diversity in Experience and Mindset: Don’t build a board of mirrors. Include people who think differently, come from varied backgrounds, and are curious by nature.
Professionalizing Advisory Work in Finland
Tarja Ilvonen, who has spearheaded the development of our InHunt Boards practice, has also been instrumental in shaping the Finnish market’s understanding of advisory work. Through cooperation with the Helsinki Region Chamber of Commerce and the Certified Advisory Board program, Tarja has helped professionalize this model, ensuring that both companies and advisors understand how to get real value from these collaborations.
Conclusion
The boardroom is changing—and advisory boards are a powerful tool in making that evolution more flexible, more future-ready, and more human.
We’d love to hear your experiences: How have you used advisory boards in your company? What worked—and what didn’t?
Feel free to reach out to either of us to continue the conversation.
- Mikko Knuuttila | CEO, @InHunt World | Senior Headhunter, @InHunt Group
- Tarja Ilvonen | Senior Headhunter, Head of Board Competencies, @InHunt Group | CEO, InHunt Boards
This article was written by InHunt World