Five factors I consider while hiring people at all levels:

Technical and functional competence

Does the person have skills-communication, rational persuasion, presentation and interpersonal skills-suited to the job.

Values and beliefs
We look for a high degree of ethical values among its employees.

Cultural fit
The candidate's work style, the kind of environment he/she has worked in, evaluate who can fit in. This is done by giving them situations and judging their responses.

Potential to grow
We estimate whether the candidate can perform well in his current role and has the potential to grow in the next higher role.

The track record This is confirmed through reference checks.