Having an Employee Exit policy is an essential part of the disconnect process. I remember a job I had where I was hired to augment 2 other developers but within a month, one had quit and the other was terminated. Both left abruptly and left little in the way of guidance for doing the job, timeliness, work processes, etc. It took a long time for me and the IT tech to figure out how to fix things, which would have been made a lot easier if there was an employee exit policy in place.
If I oversaw creating an exit policy, I would add a questionnaire for the employee regarding their experience and suggestions for improvement, regardless of the circumstances. I would also have a comprehensive checklist of items to return, both for hardware and software.
When it comes to Computer and Network Security, the employee exit policy is a great tool to keep track not only of the hardware an administrator needs to collect but of the various logins and access that would need to be updated.