>I tried posting a job recently and was hugely underwhelmed with both the quality and quantity of applicants.

Then you are properly like the companies that gets featured in from time to time saying "we can't hire engineers" who then turn out to offer 50k/year positions in nowhere, Arizona.

Or not, but if you get neither that many or that good applicants it might be time to see why. Salary might be a good place to start (it is easier to fix than location).