I've instantly got what formula1 said, but I'd offer you some else version of hiring:
There are Peasants (Men) (Basic Stats: Attack Damage 10, Attack Rate 1.67, Hitpoints 100, Armor 0, Movement Speed 300) owned by Neutral Hostile (but check the region so an enemy general can't simply come and recruit your people), whose Race is Critters (so they move chaotically) and have 3 inventory slots (third slot is for weapon, the first one or the second is for armor, the second one or the first is for shield or horse, but When A Unit - Peasant - Acquires An Item Assumed As A Weapon, It Checks All Items Carried By Unit And Converts It Into The Other One), so you can give items to them. The items are: Axe (Attack Damage + 13, Hitpoints + 25), Sword (Attack Damage + 15, Attack Rate 130%), Saber (Attack Damage + 8, Attack Rate 215%, Armor + 2), Leather Armor (Armor + 3, Movement Speed - 30), Chainmail (Armor + 6, Movement Speed - 70), Platemail (Armor + 10, Movement Speed - 150, Attack Rate 70% (decreases Attack Rate by 30%)), Pike (Attack Damage + 18, Armor + 2), Bow (Attack Damage + 10, Attack Rate 90%), Musket (Attack Damage + 50, Attack Rate 50%), Shield (Armor + 3, Movement Speed - 40, Attack Rate 90%) and Horse (Movement Speed + 100, Armor + 1).
The following list is the list of recipes to see in what order you must (no matter in what order, just give the weapon into the last place) put items into a innocent peasant to convert it into a unit. The converted units have no difference between the peasant, but are affected by items that will stay in them (use Unit - Replace action) and have their model fitting to the weapon they acquire. (units' names are just models used by them. Choose a unit's name yourself please)
Axe = Grunt (Light Armor Type (Light armor type takes extremely high damage from all attacks, but Saber attack)) (Evasion 60%) (Slashing Attack)
Sword = ArthasWithSword (Light Armor Type) (Evasion 60%) (Slashing Attack)
Saber = CaptainProudmoore (Light Armor Type) (Evasion 60%) (Slashing Attack)
Pike =
ElvenSpearman (Light Armor Type) (Evasion 55%) (Piercing Attack)
Bow =
HumanArcher (Light Armor Type) (Evasion 60%) (Piercing Attack)
Musket = Rifleman (Light Armor Type) (Evasion 60%) (Impact Attack)
Horse = FarSeer (Light Armor Type) (Evasion 60%) (No Attack)
Axe + Leather Armor = ChaosGrunt (Pierce-Reflecting Armor Type) (Evasion 45%) (Slashing Attack)
Sword + Leather Armor = ArthasWithSword (Pierce-Reflecting Armor Type) (Evasion 45%) (Slashing Attack)
Saber + Leather Armor = CaptainProudmoore (Pierce-Reflecting Armor Type) (Evasion 45%) (Slashing Attack)
Pike + Leather Armor = ElvenSpearman (Pierce-Reflecting Armor Type) (Evasion 45%) (Piercing Attack)
Bow + Leather Armor = HumanArcher (Pierce-Reflecting Armor Type) (Evasion 45%) (Piercing Attack)
Musket + Leather Armor = Rifleman (Pierce-Reflecting Armor Type) (Evasion 45%) (Impact Attack)
Horse + Leather Armor = FarSeer (Pierce-Reflecting Armor Type) (Evasion 45%) (No Attack)
Axe + Chainmail = Bandit (Slash-Resisting Armor Type) (Evasion 30%) (Slashing Attack)
..........................(everything is in that way, but Sabermen have 5% more evasion and Horse + Leather Armor (I'd call it Scout) is not FarSeer but Thrall
..........................
Axe + Platemail =
Warrior (Impact-Reflecting and Pierce-Reflecting Armor) (Evasion 15%) (Slashing Attack)
...NOTE: all undescribed units have the same model as previous version and stats fitting with other units wearing same armor...
Axe + Shield = Bandit (Light Armor Type) (
NOTE: If Human Archer has no prtrait, then simply replace it with any elven Archer.
I got to go and I'll finish the post later...