Playing the game
While On The Job, the players' characters will explore the dungeon, trying to stay alive, kill the nasties, find and avoid traps, gather treasure and make maps. When they decide and leave the dungeon, their performance will be evaluated by a Guild official, and they will receive a monetary bonus and a reputation in the Guild, which is represented in the game by Recognition Points.
During Downtime the players decide what their characters do when not exploring dungeons. Basically, a character like any person needs to eat, clothe and needs shelter from cold and a place to sleep. The player may decide to spend some money on equipment or extra training, but they will also try to keep their characters from going mad. Squalid living conditions may consider to that, as well as insufficient sleep or lack of entertainment. Push your character too close to the edge, and they will have trouble concentrating on their next assignment, go On The Job tired, absent-minded, and generally in bad shape, physically and psychically. This could have disastrous consequences, but players may be tempted to cut back on sleep to increase training time or to save up some money by having their characters live in a crammed little place with roaches and lice - especially that their income is not likely to be very high at first, and they will probably have to apply for credit in a dwarven bank, high interest as it may be.
During Downtime the players will also use their Recognition Points to obtain some extra benefits from their work. Maybe they want to haggle for a raise, get a company living quarters or have better equipment rented to them for their next mission. They may also use their points to get an extra job with the Guild, like training new recruits. If they gather enough recognition, later on in the game they might even be admitted as full Guild members.
If the characters become wounded On The Job, this is also the time to reconvalesce and pay a doctor's or healer's fees.