Thanks Sankarsan,Rémi & Jagan for your response.
I evlauated the three options already.
1) Develop a custom program and scheule it before Time Evaluation run
2) Dynamic Action - We use Process & Forms for Master Update, so this option will not work
3) Include the IT0003 in Process and Fomrs and it should update IT0003 when Rehire form is pushed in SAP
Option 1 seems to be most suitable without having any impact or major development.
My query was more on process, though i don't see any challenge in doing it technically, whether we should touch IT0003 at all, and is it a recommended practice?
Please suggest.
With best regards,
Anurag