The biggest mistake in business is hiring the Tallest Pygmy

Steve Davis says in his online post,

When we are hiring, especially if we are under some pressure to fill the position, there is often a temptation to settle for the best of those who we find. All too often we fall into the trap of convincing ourselves that we have seen all the talent that is available and simply hire the best of the bunch.
It is like an NBA general manager who, scouting and finding only Pygmy tribes, simply hires the tallest available and assumes that they will be able to do the job.
However uncomfortable it may be, however much additional time and work it may take, stay true to your original standards. It will cost you a great deal more to make a mistake now than it will to wait.

Another goodie/tip from him was, the problem is that we tend to hire people for what they know and fire them for who they are. Hiring is time-consuming and many business owners feel that it is hit and miss. As a result, there is a tendency to hold on to non-performers because it is easier to keep them than hire somebody else.

He is absolutely right, the fine balance, we as business leaders have to understand given the business model we work with, and priorities at hand. That's where Steve says in his story Ham & Omelet store run by Pig & Chicken, to tell us the difference between committed and involved. Rating your people based on this metric and choose the right people do the hiring job.