A lot of the "Mission" and "Vision" of the company depends on the stakeholders.
How they chose the team is critical to the working of the company. From the company's business goals to its business processes, policies, work ethics, culture, and talent management, it all depends on the managers and whom they choose to get the job done.
Bringing in friends and family members purely because of their relationship with the decision-makers rather than their ability to perform, can be detrimental to the business and to the rest of the team's performance.
Hiring Managers and decision-makers realize that and some are careful about whom they hire. Not only do experience, education, and skills count but also personality, logical and analytical reasoning, the ability to get out of sticky situations, and handle work pressure.
I remember reading about a highly influential businessman in the 19th century who built an empire in a book by Dale Cargenie - "How to Win Friends and Influence People" in which he shares the example of a CEO who built the largest global corporation now a multibillion-dollar business who had the following words carved on his gravestone.
"Here lies a simple man who had the talent of hiring people smarter than him".
Pharmaceutical entrepreneur Ewing Marion Kauffman shares "If you hire people you consider smarter than you, you are more likely to listen to their thoughts and ideas, and this is the best way to expand on your capabilities and build the strength of your company.”
Guy Kawasaki once said, "Greatness starts with the humility to hire people who are much smarter than you.”
Michael Dell says “Try never to be the smartest person in the room. And if you are, I suggest you invite smarter people … or find a different room.”
Steve Jobs once said, "It doesn't make sense to hire smart people and tell them what to do; we hire smart people so they can tell us what to do."
Hiring smart people can
Helps you learn and understand their way of thinking, working, and reacting to situations.
Helps you compete with those better than you and in doing so helps you excel and upgrade your own potential
Drives the company to achieve better results through smart work.
Motivates employees to recognize unbiased personal to employees.
Results are rewarded, not relations.
Helps you an an uncommon knack of hiring pure talent.
Why smart people may not be hired?
The hiring managers or team members feel threatened about their jobs.
You can lose career and growth opportunities to hard and smart working team members.
Downgrade or loss of your own position when a junior member can perform as well as you (if not better) at a lower salary.
Ego as a big obstacle
You must hire smart people who work hard too because the biggest feather in your cap is "you found them". You will prevent limiting the organization to the level of your own ability—and grow the capabilities of your company. You become more likely to listen to their thoughts and ideas, and this is the best way to expand on our own knowledge and build the strength of the company.