Final answer:
Hiring personnel play a crucial role in initiating the payroll and personnel cycle, which includes recruitment, selection, and then payment to employees. This process underlines the importance of finding the right candidate who fits both skill and personality-wise within the company.
Step-by-step explanation:
The statement that hiring personnel initiates the payroll and personnel cycle is True. Hiring personnel are indeed involved in the initiation of the payroll and personnel cycle, which involves a series of activities starting from identifying the need for new personnel to the final task of paying them. The personnel selection process is crucial as it determines which candidate is best suited for a position. Companies often look for candidates who not only possess the required skills but also have a personality that meshes well with the organizational culture. While skills can often be developed through training, personality traits are inherently more difficult to alter.