Younger dev here, I'm with portman even though I've not been in a hiring leadership position. (I've been at best, a point-man for getting the icky stuff done.)

Here's why:

You make it harder for other people to do their best at work and love their company when they have to work with mediocre people.

I say this as someone who has had to work with some heart-achingly frustrating situations.

Good luck with the hiring changes and the company.

Cheers.