Careerminds buys Premier Virtual to boost outplacement services
DELAWARE, UNITED STATES — Careerminds, a global outplacement service provider, has acquired Premier Virtual, a software-as-a-service (SaaS) recruitment platform.
The move aims to optimize functionality and utility for job seekers and employers while also fostering a more personal connection between the two parties.
Premier Virtual’s virtual recruitment platform will enable Careerminds to expand its outplacement capabilities, such as enhanced user analytics and the interactive ability to chat one-on-one or launch a video interview directly through the platform. Premier Virtual’s in-depth analytics can also be exported to clients’ CRM and applicant tracking systems (ATS), streamlining the hiring process and eliminating friction when converting data into a new system.
Raymond Lee, President and founder of Careerminds, emphasized the acquisition’s significance in addressing the hybrid work trend. “Acquiring Premier Virtual allows us to offer a more robust, one-stop solution of unparalleled capabilities and technology to better support our global outplacement platform, clients, and participants in career transition,” Lee commented.
Steven Edwards, CEO of Premier Virtual, envisions the merger as a transformative step for both entities. “Through this acquisition, we can continue to transform the outplacement and recruiting industry by fueling the intersection of leading technology with the human experience,” said Edwards.
Careerminds, established in 2008, merges AI with personal coaching in outplacement, helping job seekers land positions in under 12 weeks. Meanwhile, Premier Virtual has connected 70,000 companies with over a million job seekers since its inception.
The outplacement industry, also referred to as career transition, is a market that provides support services to help terminated or laid-off employees transition to new jobs or careers. It is estimated to be worth more than $5 billion and is projected to grow at a CAGR of 6.2% from 2018 to 2025, reaching $2.37 billion, according to Verified Market Intelligence.
