Is it possible to update the "Type of Hire" on the Hire tab within the Manage Application page?

Once an applicant is processed thru the Manage Hires bucket they display as "Type of Hire = Hire" on the Manage Application Page, Hire tab. Is it possible to change this status of "Hire" to something else if the applicant later decides to not accept the position or does not show up for work?

Our current practice is, if an applicant that has been moved thru the Manage Hire process and assigned an Employee ID later decides to decline the position or not show up for work on their first day, we run the ID Delete process on this new employee ID to remove the record. Our Labor Relations dept do not want these employees showing up in Job Data as an employee if they never worked a day for our company.