You can only hire one henchperson. You can also summon up to two followers. You have little to no control over your follower's actions.
Followers don't take xp from you, so it doesn't matter whether you play with or without them. You will get extra xp if you use lower level followers, because xp compares the average level of your party with the average level of your foes. If you're level 12 fighting goblins, you'll get little xp. If you summon a low level badger, your party will now average level 7 or 8, so you'll get more xp. You familiar/animal companion will level up as you do, but using a lower level summoning spell will summon a lower level creature.
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