Shave and a Haircut…Two Bits: The Asset Protection Transformation at Regis

Nearly 10 times larger than their nearest competitor, Regis Corporation is the undisputed leader in the hair salon industry. The company owns, franchises or holds interests in approximately 10,000 worldwide locations. Brands such as Supercuts, MasterCuts and Cool Cuts 4 Kids all fall under the Regis umbrella.

When one thinks of retail asset protection, Regis may not be the first company that comes to mind. However, when you are a customer facing business with thousands of storefront locations and thousands of employees (think stylists), protecting company assets becomes extremely important.

In 2014, as a fast-growing company, Regis leadership realized the need to formalize its asset protection program. Ken Warfield, now senior vice president of premium brands and asset protection, was hired to build a team and establish the program. The cornerstone of the program was a focus on a culture of honesty, supporting the stylists and also supporting the thousands of customers entering their salons every day. Within six months, the asset protection team was built out with each regional vice president having an AP team led by senior regionals or field directors. A robust corporate asset protection team was also established focusing on analytics and corporate issues.

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With their stylists as a focus and with total support of senior management, Ken and his team developed a training program to teach them how to make more money and reduce shrink at the same time. In the salon industry, asset protection deals with all the issues of the traditional retailer but also partners with Operations to focus on the critical component of stylist retention.

The Regis asset protection team has become an active participant in the retail loss prevention community. They regularly attend conferences, support interview training for their associates and encourage LPQ/LPC certification for the entire team through the Loss Prevention Foundation.

Very recently an asset protection team meeting was held at Regis corporate headquarters in Minneapolis, Minnesota. Minneapolis in February?! Oh, well! A presentation by Jim Lee and Kevin McMenimen representing LP Magazine and the Loss Prevention Foundation was well received. The value of professional certification and the importance of staying active in the LP industry was emphasized. Asset protection wasn’t the only topic addressed at the meeting. The Regis talent development team presented strategies on how to better partner with the operations team.

Creating a winning culture with all involved is an ongoing focus for all Regis departments. According to Ken, the Regis asset protection team came away motivated and energized. They will continue to develop a positive culture of partnership and focus on the positive while simultaneously developing better skills in order to better protect the assets of the company.

Congratulations Ken to you and your team for creating a very positive and refreshing approach to the asset protection subject.

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