The quality of a leader’s hiring features a huge impact on their firm, although it's rarely identified as an important leadership competence and is usually disregarded. This, in my opinion, is usually because the impact isn’t as obvious as say once they provides a horrible investor presentation or fail to influence the Board during a serious presentation.
However, the value of poor hiring is high, not just in terms of hiring unsuitable people (time, money, reputation, and impact on coworkers), but also in terms of the harm that poor hiring processes may cause to your company.
Candidates who have had an unsatisfactory hiring experience are much less likely to simply accept employment offer (especially high quality hires who have a choice of offers, which you'll be most curious about attracting); additionally, candidates will tell others about their hiring experience, reducing your talent pool and potentially affecting your reputation and brand development.
