In the old days, hiring was a leisurely affair. The resumes would dribble in by mail, and the first candidates wouldn't be called for weeks. It might take two months for the whole process to run its course. The new era is about speed. Resumes are sent by fax.
Managers rush through the applications.
Employees are hired in a week. We can't take the time to do this that we used to. We might lose good people, so we have to make the time and do it fast. Compensation has changed, too. But the competition is closing in.