My first question would be to look at the steps in your hiring process as a series of filters.
Do any steps that have either a larger drop-off than the others or a larger drop-off than in your past experience? What is the reason for the drop-off, are applicants dropping out/ghosting you, or are you rejecting them?
Do you have any data or insight on firms competing for these applicants? For example, are you putting in place an obstacle such as the 4h take-home assignment that your competitors do not have? Are you not posting compensation when your competitors are? Might these be subtracting more value than they add to the process?
Do any steps that have either a larger drop-off than the others or a larger drop-off than in your past experience? What is the reason for the drop-off, are applicants dropping out/ghosting you, or are you rejecting them?
Do you have any data or insight on firms competing for these applicants? For example, are you putting in place an obstacle such as the 4h take-home assignment that your competitors do not have? Are you not posting compensation when your competitors are? Might these be subtracting more value than they add to the process?