As recruitment firm Elevate Executive Selection celebrates moving in to larger office premises, it is eagerly anticipating a potential increase in demand for its services as a result of new economic substance regulations.

Those regulations take effect next month. What that will mean in terms of companies potentially increasing staffing levels in Bermuda is not yet known. That will be clearer once guidelines are issued.

Sylvia Jones, Elevate’s director of Bermuda operations, said: “We have been fielding questions. Companies want to know about hiring procedures, housing and compensation packages.

“So we are fielding a lot of questions and from companies we’ve not heard from before. There is a lot of anticipation, and we are poised for action.”

The latest office move is the third for Elevate and its sister company Corporate Concierge. Each time the office space square-footage has increased, although the business has always stayed within the Dallas Building, on Victoria Street.

Corporate Concierge focuses on relocation services and was founded 12 years ago. Elevate, which is recruitment-focused, will celebrate its fifth anniversary this year. The two businesses share a client base.

Elevate has offices in Dublin and Hong Kong, which helps if there is no suitable Bermuda candidate and it must take a recruitment search farther afield.

Mrs Jones has witnessed the business grow from having one member of staff — herself — to a team of nine.

She said the new office space is near to how she had envisaged the business evolving. There are three meeting rooms, an office kitchen, open-plan working area, and “extra space to grow into”.

The team has been encouraged to put small reminders of their home, or place of origin, in the office to create a homely feel and personal connection.

Another addition is a corner office for Mrs Jones. It is the first time she has had her own office since the very earliest days of the business.

Reflecting on the business’s success, she feels the most important component has been the staff.

“The biggest challenge is to find people to work with that have the same values,” she said.

“We have grown organically. I’m proud of the journey that we have been on, and the people who have travelled together on that journey. We share a passion for Bermuda.”

• Elevate has a website at https://elevateselection.com/