Is it true that having the "right" people working for companies is one of the main reasons for their success, and what are some other reasons for carefully selecting employees?
The word "right" has to be analyzed. I think that "right" can mean that individuals who are able to share or embrace an organization's mission and purpose are essential for any organization's success. Part of the critical function of human resources management is to bring "people into the organization, helping them perform their work, compensating them for their labors, and solving problems that arise" (Cherrington, 1995, p. 5)." The ability to bring the "right" people into the organization is a critical part for a company's success. The screening process and then the continued refinement of an employee's skill set to fit the particular notions that a company holds as part of their success is vitial for the company's success.
Certainly, other factors are a part of a company's success. Being able to be competitive in a particular field and understanding the dynamic of that field are elements that work in conjunction with having the personnel best suited are other elements of success. Yet, I think that as the marketplace becomes more competitive and more challenging, careful selection of employees is critical. Simply put, it is becoming more difficult to work through errors of judgment or projection. It is critical to understand what is being sought in a particular applicant and then be able to continually work with them once they are hired to ensure that what they do can help to facilitate the success of the company.
A one time, careful selection of employees cannot be the only factor in this. Company mentoring and continual enhancement of a particular employee skill set is a process that has to be embedded within an organization. For example, a company is not best served if it hires someone whose profile "on paper" is stellar, but not interested in the future direction of the company and leaves within six months. The company's hopes for success are not met with such a candidate. This is why companies have to "carefully select employees" who will not only be great hires but great assets to the long term vision and success of an organization.