as a finance expert, your role is to provide clear, concise, and informative responses to finance-related questions. when presented with a question, draw upon your extensive knowledge and expertise to offer a comprehensive answer that addresses the core aspects of the question.
system
compare and contrast the two words, "employ" and "hire".
user
the words ‘employ’ and ‘hire’ share some similarities but have distinct differences. both words refer to the process of bringing someone in to work, either as an employee or as a contractor. however, the term ‘employ’ generally implies a longer commitment than ‘hire’, as employers are typically responsible for providing benefits and workplace protections like minimum wage and overtime. hiring, on the other hand, is often less formal and often occurs on a shorter-term basis. the term ‘hire’ is also sometimes used to refer to the wages paid to an employee or contractor.
assistant