Finding the right candidate for your team...

This 2-5 minutes (sometimes it even takes 30 secs) phone call eliminates a large number of applicants. Interestingly, a lot of people have even forgotten that they have applied for a job or they don't know what we do. This is ground for elimination. How do you apply to job when you don't know what the company does? Its like throwing darts at the board and lets see how many actually hit.
Next, only a few get through to the live interview at our office and then we make our final decision to hire. Luckily, we run a small company with few team members and hence our hiring process is not that frequent. Though, its always a good idea to look out for candidates when you really are not pressed to hire - who knows, you might just find a 'value' candidate in the process.
Are there any hiring processes that you use to find the right candidate?