Culture Champions by CultureX
Most corporate cultures are average or worse, but a rare handful walk the talk and produce outstanding outcomes. This podcast series shares lessons from senior executives at "Culture Champion" companies that produce both exceptional business results and a world-class employee experience.
Culture Champions by CultureX
Loren Shuster, CPO, The LEGO Group
Loren Shuster is the Chief People Officer at the LEGO Group.
92 years after its founding in Billund, Denmark, the LEGO Group today ranks first among most reputable companies in the world, according to RepTrak’s 2024 list. The world’s largest tire manufacturer (although it does not make large tires), the LEGO Group has increased revenues at a 10% compound annual growth rate over the past five years, more than twice the rate of peer toymakers like Mattel and Hasbro.
The LEGO Group has achieved this growth without sacrificing profitability. The company’s return on assets is over 22%, compared to 3-5% for Mattel and Disney and negative returns for Hasbro.
The LEGO Group combines outstanding business results with a culture that employees love. More than three quarters would recommend the company as a place to work to a friend on Glassdoor, compared to about half for Disney, and Mattel, and just over one third for Hasbro. On Glassdoor, LEGO Group employees speak significantly more favorably about collaboration, organizational support, respect, toxic culture, innovation, and many other dimensions of culture than those three competitors.
In this episode, Loren gives us an insider’s view into one of the most interesting and playful cultures in the world, diving into the LEGO Group’s singular Leadership Playground, which he played a pivotal role in developing.