Ten Tips for Effective Board Work

Heltti’s board recently received the Golden Gavel (Kultainen Nuija) award for exemplary board work at the Hallituspaikka event, organized by Hallituspartnerit. This recognition—and the competition for it—motivated us to document the best practices that have shaped our approach to board work.

Here are our ten tips:

1. First things first: Build your board based on expertise — not ownership. Shareholders are always available to the company, so board seats should be reserved primarily for external experts.

2. A great chairperson highlights others rather than dominating the discussion.

3. Start with the foundation: Get to know each other, build trust, and agree on operating methods and goals together. Only then should you dive into the actual work.

   
   

4. A shared digital workspace is invaluable. It ensures that all documents are well-organized and easily accessible.

   
   

5. An annual calendar helps keep key themes top of mind and schedules in order.

   
   

6. Meeting materials are sent out 48 hours in advance. This allows meetings to focus on discussion, not document presentations.

7. Meetings start and end on time. Prioritize themes and decisions first, cover reports afterward, and conclude with a “Board Only” session.

8. Keep communication flowing — let WhatsApp sing! Collaboration shouldn’t stop between meetings.

9. Annual self-assessment is essential. Continuously refine your board’s composition and practices.

10. A meeting without laughter is a failure! A positive atmosphere fosters trust and leads to better decisions.

One more thing: Take a 24-hour offsite and share a few dinners annually. It builds trust—and it’s fun!

This text was published in the Finnish language in Kauppalehti on 13 November 2024.