What are the essentials of a good interview for employer and employee?

For Employer: The supervisor of the post shall prepare interview questions and the Interviewer Panel shall review and moderate the questions. The questions should be competency based questions to judge the understanding, skill and depth of knowledge of the candidates. Then the panel shall decide who will ask which questions. The ambiance of the interview room shall be calm and quiet. The interviewee shall be greeted warmly to make him comfortable and easy. Then the candidates shall be called one by one and the same questions shall be asked to them for better comparison. All Interview panel members shall assign marks for each question and an average of marks shall be prepared at the end of the interview.

For Interviewee: The Interviewee shall review the possible questions and practice answer thoroughly beforehand. He shall dress properly and arrive at the place of interview at least half an hour before interview. He shall greet the receptionist and inquire about the place of interview and sit there quietly. The mobile phone shall be switched off. When called for interview, he shall enter and greet the interview panel members. He shall listen to the questions carefully (may take note for long questions) and start answering in a confident tone. The answers must be logical, clear and to the point. At the end interview, normally the panel provides an opportunity to the interviewee to ask any questions. The interviewee shall take this opportunity and ask one or two professional questions like- when the interview results will be informed or to whom the post reports to. Finally, before leaving the room, the interviewee shall thank all the interview panel members for their time and to call him for interview. 

Interviewer Should find suitable candidate to have proper and good interview . which can have good dialogue or communication between Interviewer and interviewee.

Well, I'll sum it in one word which is understanding.

Mutual Respect and good Communication.

Recpect,Good Commuications

mutual respect,openness.communication,support and nurturing.