According to the HN gestalt, you shouldn't do a whiteboard interview because that's too unrealistic because nobody programs on a whiteboard, you shouldn't expect programmers to code with their laptop in an interview because that's too much pressure and also unrealistic, you shouldn't expect programmers to be willing to do a take home exam because that's too much work without money (and if people did pay, the complain…
Yes, but to be fair, I am not convinced that such a method would yield drastically worse results than what is already done at many places. I am not totally being facetious about that either!
It's a jungle. People get hired or rejected for all kinds of reasons, meritocracy has less to do with it than we would all like.
The best approach is to keep one's professional network well-maintained so that when it comes time to change, your reputation precedes you. That's not always possible. Some jobs really are filled from candidates who drop their resume into an anonymous applicant vat on the web and hope for the best. But I think the best-fit jobs are often obtained when you know someone and they know you.