From O’Reilly/Pfeffer’s “Hidden Value:”

Hiring based solely on job skills can be short-sighted and expensive.
If someone doesn’t fit the culture, either the culture will change or the person will leave.

If your company’s hiring practices are “industry standard” (by definition, middling), then its values are equally unimportant, no matter what greatness your company ostensibly performs.  “One chance at a first impression” and all that.

• Post job.
• IMMEDIATELY upon receipt, respond to email applicants with receipt; (mail or in-person applicants with postcard).
• Managers: Compile three categories (Yes/No/Maybe).
  Move “Maybe” into “No.”
  Inform “Nos” of status.
• Interview “Yeses.”
  Inform “Nos” of status.
• Final interviews.
  Hire.
  Inform “Nos” of status.
• Hire qualified (better: overqualified) and creative, not skillful and capable.
  Look for values, not education.
  Hire to fit, not proficiency.

And whenever possible:  hire someone better than you.