Bad hire costed 100M

A great interview done by SAI with Zappos CEO Tony Hsieh. 2 points had my attention;

The biggest mistake that he made along the way is bad hires. He then says that all the bad hires has cost Zappos 100M easily. Bad hires bringing more bad hires, bad decisions, lost business opportunities etc, etc... He feels that cultural fit is more important in the long term than performance and to ensure the right hires, Zappos has HR interview just on the cultural fit.

The second is culture and Zappos core values. Zappos was acquired by Amazon for $1.2B, but they remain independently. They even refused on an previous acqusition offer to maintain their culture and core values. They built the core values after 5 years into the business, it took 1 year to finalize them and involved the intire company in setting them up. Zappos Family Core Values are;

1. Deliver WOW Through Service
2. Embrace and Drive Change
3. Create Fun and A Little Weirdness
4. Be Adventurous, Creative, and Open-Minded
5. Pursue Growth and Learning
6. Build Open and Honest Relationship With Communication
7. Build a Positive Team and Family Spirit
8. Do More With Less
9. Be Passionate and Determined
10. Be Humble

And the interview