• by July 20, 2005

It started, as most discussions of this kind do, with a common lament: "How do we keep highly skilled, talented women executives from opting out of the workforce?" It ended with the four women charged with commenting on this nagging dilemma talking about the need for more flexible schedules. Yes, we hear that a lot, not only in the executive ranks, but in all walks of the work life. We hear it constantly. We hear it from women and we hear it from men.

But yesterday, we heard about it in terms of the executive suite, where some women manage to break through the glass ceiling that continues to exist in our business culture. Co-sponsored by The Week and The Conference Board, "Women in Power: Views From the Top," featured Catherine Kinney, president and COO of the New York Stock Exchange; Dr. Caroline Kovac, general manager, Healthcare and Life Sciences, IBM Corp.; Shelly Lazarus, chairman and CEO, Ogilvy & Mather Worldwide; and Suzy Welch, co-author, along with husband Jack Welch of Winning, and former editor of the Harvard Business Review. The discussion was moderated by none other than CNBC's "Money Honey" Maria Bartiromo, who expertly navigated the conversation.

The panelists, guided by Bartiromo, discussed a wide range of topics from corporate scandals and governance issues to balancing work and family, to China, the productivity of the U.S. workforce, and biotech. It was as topical a discussion as you could ever wish for from four women who, while they are in very different businesses, can relate to one another's climb to the top. But what the Minute found most interesting was the work/life balance discussion.

Advertising whiz Shelly Lazarus spoke about women choosing not to find a way to manage three kids, high-powered careers, a husband, and more. "I think we're losing a lot of talent," she told a packed house at the Four Seasons. "I haven't seen a lot of women returning. They want more flexible schedules. They want to stay at home and experience their kids while they're young and have the freedom to do that." To her credit, NYSE's Kinney mentioned that not all women can afford to do that.

"The workforce must change," declared IBM's Kovac, who said that it's not just women who need flexibility, it's everyone throughout the balance of their work lives. "You need to find flexibility for all employees. We need to find a better way." Kovac hit the nail on the head.

Lazarus, who we have heard speak before, is particularly brilliant on the flex issue. Her business, she says, is all about talent. To be sure. Here's a woman who deals with all sorts of mercurial creative people, challenging clients, and impossible deadlines. "It's not about flex time, it's about meeting people on their own terms." Lazarus went on to say that it's about the creative director who wants to work from his ranch in Texas, or on a mountaintop in California. "It's an attitude; it's not about policies and terms. We're far from it, but I can see it happening."

On another front, Lazarus told the audience that "technology is transforming the [ad] industry, but no one medium has ever completely replaced another. ...What's interesting is how you use all of them together." She went on to say, "Search is going to be the thing that really transforms the way we sell things to people." Damn straight.

And here's what Lazarus had to say about media plans: "There are very few clients today that would accept a classic plan... If you don't have something that totally startles them, a new form of media, they're disappointed. The most creative part of any campaign now is the media plan," she declared.

And now it seems completely appropriate, albeit self-serving, to mention that MediaPost is calling for entries for its Creative Media Awards competition. The CMA judging panel - comprised of senior advertising executives and editors from MediaPost - wants to consider your media campaign(s). You can enter campaigns in a variety of categories. Check out the information here.

You have until August 5 to enter, so take a look and get your entries in pronto!