NetworkNews | Network of Executive Women

THANKS, COSTCO. Costco has renewed its sponsorship of the Network of Executive Women at the Platinum level. NEW Client Services Director Nancy Krawczyk said “we are grateful that Costco is continuing its generous support for NEW and our mission of advancing women and diversity in CPG/retail. They know that diversity is not an extra that you cut back on during a downturn but an essential to business health.” The Network is sustained by more than 50 corporate sponsors from the CPG/retail industry, including Title sponsors Accenture, Chevron, Coca-Cola, Deloitte, Johnson & Johnson, the Kellogg Company, KPMG, Kraft Foods, the Kroger Company, Nestlé Purina, PepsiCo, Procter & Gamble, Stop & Shop/Giant, Unilever, Walmart/Sam’s Club and the Walgreen Company.

DELOITTE’S LOOK AT GEN Y. Deloitte has released a new survey on Generation Y, a demographic the firm describes as “critical for global business in tough times.” The study finds Gen Y members– those born between 1982 and 1995 – eager to contribute and take on responsibility, ambitious and full of “fresh insight on how to best reach peers in the consumer market.” According to the survey, members of Gen Y are confident, even in today’s economy. Four out of 10 (45 percent) said the current economic situation would have a positive effect or no effect on their marketability. Gen Y members cite opportunity for growth and development (64 percent) over salary (50 percent) in their decision to work for their current employer. While 69 percent of Gen Y members are very or somewhat satisfied with their current jobs, almost half (48 percent) say they plan to leave within two years. Gen Y members want more responsibility sooner than their predecessors – and they appear to be getting it. According to the Deloitte study, 87 percent of respondents say they’ve worked with their current employer for less than three years, yet almost half (50 percent) say they are in senior staff or management roles. In another key finding, the survey finds that Gen Y workers are eager to work with effective older leaders. Nearly 78 percent say they have an effective or extremely effective working relationship with their boss. The authors of the study recommend that managers develop a plan for working with their Gen Y employees, not “over promise” to young workers, and constantly monitor progress on intergenerational relations. “Organizations that do not take advantage of the promise of intergenerational collaboration,” the study states, “risk becoming irrelevant and obsolete.”

OBAMA STARTS WOMEN’S COUNCIL. President Obama established a White House Council on Women and Girls last week. The council will be charged with providing a coordinated federal response to the challenges confronting women and girls and to ensure that all Cabinet and Cabinet-level agencies consider how their policies and programs impact women and families. The White House said "the Council will be comprised of the heads (or their senior-level designees) of the Cabinet agencies, certain other non-Cabinet agencies, and other Executive branch departments, agencies." Obama senior advisor Valerie Jarrett, will chair the Council. Tina Tchen, director of the White House Office of Public Liaison, will serve as executive director. The Center for Women’s Business Research has been working for over 20 years to show both the progress made by women entrepreneurs, as well as the very real challenges and obstacles still faced. Beverly A. Holmes, chair of the Center for Women’s Business Research, notes, “It is validating to see an early focus on women made by this administration, and the Center is committed to assist in whatever way possible. With our deep and vast research on success factors for women entrepreneurs, we are confident that we can provide some critical answers to pressing problems in our nation.” Dr. Gwen Martin, who serves as the Center’s interim executive director, stated, “With women owning 40 percent of all firms in the U.S., there are clear lessons in terms of leadership, financial savvy, networking and clout that can be leveraged in any number of programs and initiatives in support of women and girls.”

FRITO-LAY APPEALS TO WOMEN. The New York Times reports that Frito-Lay is revamping its calorie-conscious snacks to make them appeal to women, including the baked versions of Lay’s, Fritos, Ruffles, Doritos, Cheetos and Tostitos; Smartfood; Flat Earth; and the snack maker’s 100-calorie packages. “The company has researched women’s feelings about snacking and guilt to produce new packaging, new flavors and a new ad campaign, all in an effort to get women to eat Frito-Lay snacks,” the Times reports. Women are snacking more than men, but are not eating as many Frito-Lay snacks, said Jill Nykoliation, the president of Juniper Park, the advertising agency that handled the Frito-Lay women’s project. “So if you’re snacking two times as much, but you’re not snacking with us, why, and what can we do for you?” Frito-Lay is also trying to replicate its success with its good-for-you message on SunChips, which is one of its fastest-growing brands, said Gannon Jones, the vice president for portfolio marketing at Frito-Lay North America. According to Frito-Lay research, women snack only 14 percent of the time on salty foods. Women snack 25 percent of the time on sweet foods; the other 61 percent of snacking includes drinks, fruits and vegetables.

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