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The leading employment thinktank the Work Foundation has been bought by Lancaster University after declaring insolvency.
The thinktank, which describes itself as “the leading independent authority on work and its future”, announced two weeks ago that it had been purchased by Lancaster University. The move came after a winding up petition, citing a £26.9m pension deficit, was filed at the high court.
Lancaster University have stressed that it did not inherit the pension deficit that blighted the think tank, however it insists that the actual amount spent on the takeover is “not in the public domain” and so will remain undisclosed, as will exactly where the funds were taken from.
According to its website, the Work Foundation “aims to improve the quality of working life and the effectiveness of organisations by equipping leaders, policymakers and opinion-formers with evidence, advice, new thinking and networks.”
The alliance is being touted by both sides as beneficial. Professor Sue Cox, the Dean of Lancaster University Management School, said the development cemented a long-standing relationship. She added: “There are obvious synergies – for example in the areas of HR, innovation, labour economics and organisational health and wellbeing – and we are very excited about combining our respective strengths.”
Stephen Bevan, the Work Foundation’s managing director, added “our existing programmes of research on the world of work are strong and influential,” he said. “But being able to work in partnership with eminent experts in a number of disciplines and having access to new networks both in the UK and overseas will further strengthen our impact.”
The Work Foundation is a 92 year old not-for-profit organisation whose “independence, expertise and networks give us a strong platform for engagement, [aiming to] improve the quality of working life and the effectiveness of organisations by equipping leaders, policymakers and opinion-formers with evidence, advice, new thinking and networks.”