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When I hire someone, I like to set them up for success. That means defining what success is so both you and the employee know what they're striving for. I will share the metrics during the interview process and ask for a commitment to achieve the goal. If they say yes, I believe they can do it.
You might say: "But some people lie". You'd be right of course, that's why I also always check references and do some additional research on the person outside of the references. If all looks good, they have given me their commitment they can achieve the goal and there is nothing I can find that gives me reason for concern - I pull the trigger and hire them.
HOWEVER - my job doesn't end there. The first 3 months are usually a probation period. By working closely with the person in the beginning I can see their work ethic, their skills specifically within the position, and their commitment level. Most importantly, it's their ability to learn and collaborate. They might not know everything when you start working together, but if they're able to learn and collaborate - they're a solid employee that can grow with your company.
Sometimes this phase shows they aren't the right fit for you, so I don't give the "keys to the kingdom" right away. That mitigates your risk while you're evaluating how well you guys can work together.
Sometimes things work out great, and sometimes they don't. I feel it is important to always set someone up for success so it is their choice if they succeed. If you don't give them the opportunity to succeed, I feel that is more frustrating and you could scare away a really valuable addition to your team.
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skype: boomboombenoit
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