There’s another thought to this to, which is: knowing when you actually need to hire someone, vs. when you have to get a job done. Let me give you an example:
A startup I’ve been working with recently needed to add a salesperson quickly because they needed to reach out to retail store managers quickly. They started going down the hiring path until I asked them what would happen after that particular promotional strategy was over - would they have something else for that person to do? And would they need that skillset longer term to further the goals of the company?
They decided that what they really needed was interns and contract workers to accomplish a very tactical goal. And while it was more expensive to do that than it would have been to hire, they’ve also not burdened themselves with an employee who wouldn’t really fit into the longer-term needs of the company.
So the advice is: don’t hire for a particular task - hire for the longer term needs of the entire company and make sure you can see someone in the role for years to come and not just when you have this current pressing need.