This. One of the reasons I chose my last employer (SAP, or more specifically, SAP Research) was their no bullshit, yet very thorough, recruitment process.
Compare that with my <A very, very, well known software corp> experience, where the phone call interview with HR went like that:
HR drone: "So, what's your degree?"
Me: "Mathematics." [didn't you read my resume?]
HR: "Oh... well... Most of the people working here have CS degrees."
Me: "Ah, well, my last job title was 'Computer Science researcher' and before that I had several years of experience as a programmer, so I think I'll fit" [apparently not!]
HR: "Yes, but do you know algorithms?"
Me: bangs head on wall
Sorry, no matter how reputable your company is, if that's the recruitment process then I can do better.