If the prospect of hiring makes you want to run away screaming, you’re not alone. It’s a tough process that often feels like a crapshoot where you won’t really know if you made the right decision until the person has already put a picture frame and a potted plant on the desk.

But with some careful planning and forethought you can up your chances of making a smart hire. One of the first steps is to determine the job’s qualifications – what exactly do you need? What should the employee be able to do? What skills are necessary?

Also, think about what’s more important to you and your organization: technical skill level, personality, the ability to get along with others or fit within the company and its structure. For a position that requires a great deal of teamwork, you may be more interested in someone who is a team player and can learn some of the skills needed for the job.

Here are some good tips in this blog post “Seven Steps to Smarter Hiring,” which includes watching for red flags and really taking the time to delve deep into a person’s background.

What have you learned when hiring employees? What are the most important questions to ask a job candidate?

A recent BusinessWeek cover story described what could turn into a “lost generation” of people in their late teens and early 20s, many who have one and two college degrees but can barely get an employer to call them for an interview.

According to the article, U.S. unemployment rate for those ages 16 to 24 stands at 18 percent, a jump from 13 percent a year ago. It might seem these youngsters eager for experience would be considered inexpensive labor, but as the BusinessWeek story points out, many businesses don’t want to take any chances. It’s probably best to hang onto to the workers who know the business rather than devote time and resources to training someone new.

Eventually businesses will start to hire again. The tide will turn and companies will grow, expand and fill some of the desks that have emptied out over the last year. But will young people be given a chance? They won’t have much experience and many probably will have found themselves working minimum wage jobs completely unrelated to their intended profession.

Competition for jobs will be fierce with more experienced workers going toe to toe with younger workers. How do businesses fill their ranks with seasoned employees while giving youth – ultimately the managers, VPs and CEOs of tomorrow – a place in the business world? Share your thoughts on this topic by posting a comment. We’re eager to hear your ideas and advice.