The federal sector will hire more than 600,000 people in the next five years, according to a recent study by the Partnership for Public Service. That is great news for job seekers, but presents significant challenges for agencies.

This competition for top talent has placed greater importance on the hiring process. The difference between right and wrong decisions can mean millions of dollars in recruitment, learning and development costs. Luckily, agencies can look to the private sector for some guidance.

Imagine a hiring process where candidates not only learn, but experience a day in the life of someone in the position for which they are interviewing. The good and the bad are equally exposed and discussed, enabling the candidate to determine if the position is the right fit. Meanwhile, an employer can learn how a candidate would react and handle specific situations; all of this done in a standardized, legally defensible manner, which quickly separates the best candidates from the rest.

These best practices include the use of realistic job previews — a multimedia "day in the life" example of someone in the job; and multiple-hurdle assessment strategies, which use more than one assessment tool such as a computer-based test and scenario-based simulation of the actual job. The tools are effective ways to communicate expectations about the job requirements and assess candidates' competencies, which pay significant dividends. Public-sector companies that have implemented these candidate simulation and testing strategies have realized millions of dollars in savings annually by minimizing turnover costs and increased productivity.

In cases where agencies are looking for candidates with highly specialized skill sets, they can try mining resume databases; searching and networking through social media sites such as LinkedIn, Facebook and others; and calling potential candidates to discuss the job opening and encouraging them to apply.

Attracting passive candidates requires creative advertising. In just the last couple of years, agencies have begun to benefit from online advertising, using Search Engine Marketing (SEM) techniques on sites such as Google and Yahoo. SEM presents a strategic and cost-effective way to target appropriate subsets of potential candidates. For instance, when an individual searches for information on a specific topic, an appropriate, job-related advertisement will display within the results.

Once an agency has created interest from top-talent candidates through targeted recruitment efforts, the next stage is to utilize multiple valid assessments to identify the best candidates for the job. The first step is to clearly articulate the job requirements in the vacancy announcement and use application questions that assess the most critical competencies for performance in the job. If done correctly, agencies will see a significant reduction in the number of candidates remaining for consideration.

Hiring managers can then use tests, work simulations or interviews, or some combination of those, to assess and screen those candidates further. By using more than one assessment tool, agencies create a "funnel" approach to evaluating candidates, resulting in a significantly smaller number of only the best qualified candidates.

With the prediction of more than 600,000 jobs to fill in the next five years, comes what many have called a "good problem to have." How these positions are recruited for will make the difference between agencies emphasizing the "good" or "problem" part of that equation.

Cecelia Evans is a senior vice president and Federal Sector Practice Leader and Ernie Paskey is a vice president with Aon Consulting, a human resources consulting company.