Old English hyrian "pay for service, employ for wages, engage," from Proto-Germanic *hurjan (source also of Danish hyre, Old Frisian hera, Dutch huren, German heuern "to hire, rent"), of uncertain origin. Reflexively, "to agree to work for wages" from mid-13c. Related: Hired; hiring.
diminutive word-forming element, early 14c., from Old English -ling a nominal suffix (not originally diminutive), from Proto-Germanic *-linga-; attested in historical Germanic languages as a simple suffix, but probably representing a fusion of two suffixes: 1. that represented by English -el (1), as in thimble, handle; and 2. -ing, suffix indicating "person or thing of a specific kind or origin;" in masculine nouns also "son of" (as in farthing, atheling, Old English horing "adulterer, fornicator"), from PIE *-(i)ko- (see -ic).
Both these suffixes had occasional diminutive force, but this was only slightly evident in Old English -ling and its equivalents in Germanic languages except Norse, where it commonly was used as a diminutive suffix, especially in words designating the young of animals (such as gæslingr "gosling"). Thus it is possible that the diminutive use that developed in Middle English is from Old Norse.
<a href="https://www.etymonline.com/word/hireling">Etymology of hireling by etymonline</a>
Harper, D. (n.d.). Etymology of hireling. Online Etymology Dictionary. Retrieved $(datetime), from https://www.etymonline.com/word/hireling