Joel on Software has a great analysis of resume spam, the challenge of reaching passive candidates, and the parodox that everyone thinks they’re hiring the top 1% of candidates.

In fact, one thing I have noticed is that the people who I consider to be good software developers barely ever apply for jobs at all. I know lots of great people who took a summer internship on a whim and then got permanent offers. They only ever applied for one or two jobs in their lives.

On the other hand there are people out there who appear to be applying to every job on Monster.com. I’m not kidding. They spam their resume to hundreds or thousands of employers. A lot of times I can see this because there are actually hundreds of “job” aliases in the “To:” line of their email. (Some evil part of me wants to “reply-to-all” the rejection note I send them, but I usually overcome the urge).

It’s pretty clear to me that just because you’re hiring the top 0.5% of all applicants for a job, doesn’t mean you’re hiring the top 0.5% of all software developers. You could be hiring from the top 10% or the top 50% or the top 99% and it would still look, to you, like you’re rejecting 199 for every 1 that you hire.