Does the Elevator stop short of the floor when it stops hard? If so and this is an Otis Hydro, there is Condenser Timing around the Dump Valve (Leveling Speed)to achieve the soft stop. The Pump Motor stops running and coasts to a stop while the Dump Valve is still energized via the condenser timing proving the soft stop. If it is some other make of hydro there may be a timed relay to keep the Valve open long enough to coast to a soft stop. Worth a look!!!