Do not copy and paste this code - it won't work!

Grid.php

<?php
class Zyn_Common_Block_Adminhtml_Catalog_Product_Grid extends Mage_Adminhtml_Block_Catalog_Product_Grid {

    protected function _prepareColumns() {
	$this->addColumn('zyn_featured',
        array(
            'header'=> 'Show on Homepage',
            'width' => '50px',
			'index' => 'zyn_featured',
			'type'  => 'options',
			'options' => array(0 => 'No', 1 => 'Yes')
    	));
        parent::_prepareColumns();
    }

    protected function _prepareCollection() {
	$collection = parent::_prepareCollection()->getCollection();
	$collection->addAttributeToSelect('zyn_featured');
        return $this;
    }
}