Big bucks are routinely allocated to track down, court, and hire the right talent for company start-ups or restructuring existing business operations. Expending funds to flush out and hire prime candidates typically saves millions while adding millions to a company’s bottom line. There’s plenty at stake; therefore, companies are willing to pay five-figure, sometimes six-figure, bounties to recruiters who can produce. Hiring the right candidate is much like investing in the next big stock. A company’s prospectus, or in this case, the candidate’s success record and scope of skills, determine potential return on investment.

Google is oftentimes on the lips of many, so it shouldn’t be a surprise that the company’s hiring practices are creating a buzz as well. A few months back, Google announced it placed two billboards, one in Cambridge, MA, and the other in Silicon Valley, in an attempt to draw technical jobseekers. The company created what has been coined an "innovative hiring tactic."

What did the billboards say? If you understood and could decipher the “riddle,” which stated "{first 10-digit prime found in consecutive digits of e}.com," you're taken to a website where you can post your resume. It drew the inquisitive; raised the eyebrows of the media; and, set the wheels in motion for those who hire to reexamine their hiring practices. The billboards created an online viral effect as well. Bloggers abuzz couldn’t resist posting the new hiring strategy within their blogs, and others within forums.

True to Google fashion, the company hasn’t stopped with just one new “hiring tool” in its arsenal to secure the best talent. The company has also announced use of a detailed algorithm to prescreen and ideally improve the quality of new employees. The algorithm applies a quantitative formula, which also true to Google fashion, isn’t revealed in its entirety to the public. When dealing with a staggering 100,000 job applicants each month, a mind-blowing 138 resumes an hour, searching for the right candidate can be compared to looking for a pea in a pile.

Much like I tell clients to focus on quality not quantity when job searching, Google is taking the same approach by going after their target audience and immediately eliminating those who don’t meet their criteria using the innovative, computerized process. Serving as a filter, the company utilizes a detailed online survey that asks questions pertaining to the candidate’s personality and other attributes.

The technology industry, known to have turnover rates as high as 40% (noted in a Deloitte and Touche Consulting Group survey of CIOs), makes the need to secure and retain the right employees, technical and beyond, as critical. Even a 10% turnover rate can cost millions from wasted training and other expenses incurred bringing those candidates on board; i.e., admin costs associated with conducting multiple interviews.

One could argue that Google is a trendsetting god. Their hiring practices have jobseekers by the droves flocking to secure employment at one of the most innovative companies on U.S. soil.

But, we wouldn’t be in America if there weren’t naysayers in the mix. Google has seen criticism; and on occasion, the company’s process has been referred as prospect hazing. Either way, jobseekers don’t seem to be turned off by the elaborate hoops; proven by the sheer numbers of candidates vying for Google’s hiring attention.

I attempted to locate Google’s current or past turnover rates to determine if the company’s new hiring strategies are reflecting an increase in quality candidates, therefore, lowering turnover rates. But, I was unsuccessful. If anyone out there has access to public record containing these details, please share. I would love to see a before and after picture.

Although companies are reliant on outside hiring resources, saving overhead while attracting leading jobseekers takes more than traditional methods. Companies need to create an environment that draws the best-of-the-best, and using tired techniques definitely doesn’t reflect your company as an innovator or trendsetter.

Ask yourself this question: How much additional market exposure do you think Google has received from these hiring practices? Don’t forget another benefit to broadening your hiring strategies: Advertising employment opportunities is PR too.