Start here. This is the direct spoken answer to practice first.
Overview
Reranking spends more computation on a small candidate set to improve the order and relevance of evidence.
I rerank when first-stage keyword, vector, or hybrid retrieval has useful recall but its top results are not precise enough for generation. The reranker scores each candidate against the query with a stronger relevance model and returns a smaller ordered set. It cannot recover a document that first-stage retrieval never included.