Having right employee is based on the decision making in the hiring. Hiring an employee is based on the selection of a right person. If the organizational manages or selectors select an individual who do not match with the job, then it will cost to the organization.
Why selection is more important? If the selected individual is over qualified or under qualified, the labor turnover will take higher number in the organization, because, if the individual is under qualified, then s/he will not be able to do the job as expected by his/her managers. Hence, the productivity will fall in the organizational level. It may result to fail the organization in the long run. If the organization selects a bunch of individuals, not suit to their requirement, then they may fail even in the short run. If the organization selects the over qualified individual, it may not help to the individual to utilize his/her capacity for the organization. Under utilization of skills will cause to fall the productivity. In both scenarios, the employees will get frustrate soon and will leave the organization or managers may fire them, before they leave. It will cause to the higher LTO (Labor Turn Over)
Selected individuals should fit with the organizational culture, environment, and organizational goals. Those things are key factors to make the success of the organization in the future. If selected individual is not matching with the culture, norms, believes, goals, and the environment, both managers and employees will fed-up with working.
Selecting a wrong person will cost by requiring more training period, (for under qualified persons-they may need more training to get familiar with the job, for over qualified individuals, they may not focus on the culture and other norms and environment. So over qualified individuals will work out of the process. Both situations will make the job harder and will create to do work more than twice. Also, after the employee left the organization or after they got fired, managers may need to go through again with the whole recruitment process. It will time consuming and will consume more money and by that it will make more cost. Furthermore, bad hire will affect negatively to the entire staff, by affecting to the motivation and to the morale, especially in the team works.
As discussed here, the selection is most important thing in the recruitment process, because it deals with so many things relate to the future of the organization.