Hiring is what you do when you let the world know that you're accepting applications from people looking for a job.
Recruiting is the act of finding the very best person for a job and persuading them to stop doing what they're doing and come join you.
And then Godin asks the question that must be answered:
Is your job opening so good you could recruit great people for it?
(You can read the whole Seth Godin post at his blog here)