50% Hiring Cost Reduction through increased Quality and Speed: The Nord Stream 2 Project

The Landfall of the Nord Stream Pipeline in Germany

Nord Stream 2 AG is a project company established for the planning, construction and operation of the Nord Stream 2 twin pipeline to transport natural gas from Northern Russia to Europe. New hires were needed for multiple business and technical functions. Nord Stream 2 wanted a data-driven, comprehensive, time saving process that would result in candidates who could immediately fit into their high-speed, international culture and who would produce results on Day One.

Interview/Hiring Ratio of 4:1

With softfactors, Nord Stream 2 soon learned that softfactors’ methodology reflected current research conducted by the Stanford Research Institute International and the Carnegie Melon Foundation showing that job success depends on a combination of technical knowledge and soft skills. They realized that soft skills were valuable factors to consider.

Smart algorithm do the workload

softfactors’ selection tools use an algorithm to compare the job requirements to each candidate’s profile. Candidates interested in a job complete an interactive online application. All candidates are screened on overall fit, traditional variables, and soft factor elements drawn from interactive exercises. The result is a scientifically rigorous list of pre-selected candidates – both suitable and unsuitable – based on a combination of competencies and foundational and technical skillsets.

Saving 20 hours interview time per position

With the front-end sourcing and candidate screening steps handled by softfactors, Nord Stream 2’s HR team was able to concentrate on in-person interviews and collaborative assessment discussions with the hiring managers. It brought down the interview/hiring ratio to 1:4. The number of interviews for hiring managers was reduced by over 50% because of the pre-match of suitable candidates to jobs.

Download the full study here
Nord Stream 2 AG – Facts and Figures
Time Frame for Recruiting 9 months
Online Applications through Softfactors ATS (very specialized jobs) 2’500 applications automatically screened
Algorithm assessed as suitable 450
Hired (filled) positions 45
Hiring/Interview Ratio 1:4,3 (normally 1:10)
Time saving for hiring managers and HR (2 people in interview) 810 hours

About Softfactors AG

Softfactors AG is an HR Tech Startup based in Zurich Switzerland. The recruiting solution measures and compares both resumes and soft skills. It looks at qualifications, work experience, social skills and personality of applicants and compares these with the requirements of the job opening, using a set of competencies and pre-defined job profiles.

www.softfactors.com


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