Possible to convert current text field into lookup field?

Is it possible to convert a current text field into a lookup field?

I have a current text field in a table that is an employee name (text input field). I would rather that field actually be a lookup field. In a simple use case, I could simply add the lookup field for the name, and then delete the current field. My problem is the current field itself is looked up numerous times on other tables. I would like to avoid going down the rabbit hole of finding all the places I need to pass a new lookup field, change reports etc. Would be much cleaner if I could change the existing field to a lookup. Is it possible?

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Mike Tamoush
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