Updated: Aug 18
Check out these articles about recruiting and the hiring processes:
How to Design a Better Hiring Process (from Harvard Business Review)
Here's Google's Secret to Hiring the Best People (from Wired)
...most interviews are a waste of time because 99.4 percent of the time is spent trying to confirm whatever impression the interviewer formed in the first ten seconds.
The best predictor of how someone will perform in a job is a work sample test (29 percent). This entails giving candidates a sample piece of work, similar to that which they would do in the job, and assessing their performance at it.