PURPOSE
This policy provides termination guidelines, including the process of disabling former employee access, reclaiming company equipment and finalizing payroll/benefits details. It complements our Employee termination checklist, which should be filled out by involved individuals/departments and can be printed or used in electronic format shared with appropriate personnel.

From the policy:

POLICY DETAILS
Access and assets should be the underlying theme of the termination process:

Access refers to accounts, systems, devices and any other elements that the employee used to do their job, often via an account they had to sign in with, whether individual or shared.

Assets refer to digital or physical property belonging to the organization — data as well as devices — and employee entitlements such as payroll, benefits and vacation time.

To complete all termination steps, disabling, removing or reassigning access goes along with ensuring that assets end up in the appropriate hands. These should both be managed as quickly as possible, especially if the termination is on an involuntary basis.