hire
To give someone a job and pay them for work.
To hire someone means to choose them for a job and agree to pay them for their work. When a store manager hires a new cashier, she's deciding that person has the skills needed and offering them the position. When your neighbor hires you to mow his lawn, he's paying you to do that specific job.
The word works both ways: employers hire workers, and workers get hired. A company might hire an engineer to design products, or hire a lawyer to handle legal questions. You might hear about someone being hired full-time (working every day) or being hired for a temporary project.
Hire can also mean renting something for a period of time, though this usage is more common in British English. Someone might hire a car for a week or hire out a boat for an afternoon.
The opposite of hiring is firing, when an employer ends someone's job. Getting hired is usually exciting because it means someone believes you can do good work and is willing to pay you for it. When you're old enough to get your first job, being hired will mean you've convinced someone that you're responsible and capable.