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Hi Gopi, and thanks for the comments on my blog this week. Your question about candidate fallout in the quick-turnaround timeframes of agency recruiting is an excellent one.
In the interim, you might find a hint or two in this discussion started yesterday by Kathie Must. I think the secret lies in understanding and managing the components of your own pipeline; you have to do the same relationship building as recruiters in slower processing environments, it's just that you don't have as much time to spend on it if you want to earn a living. I'm looking forward to addressing your question in the "Dear Claudia" forum soon!