How to select the right employee for the job

In an economic downturn, recruitment processes need to be especially effective at selecting the right employees. Not only is there increased pressure on each new recruit to deliver, but in the midst of a deep recession, redundancies and unemployment result in more applicants for every vacancy. With supply exceeding demand in all labour markets, efficient screening of candidates is absolutely key for all organisations. However, with such large numbers of applicants to consider, the risk is that the costs of screening will increase considerably, at the very time that companies are under increasing financial constraints. So which of the different methods is currently considered best practice and, crucially, which will deliver the best value and the optimum return on investment?