How to Offboard an Employee from Eqvista when they leave the company?

Employees at some point leave a company. But what happens if the employee who decides to leave was offered equity employee compensation? Let us take the different scenarios that can come up in such a case, to understand what to do.

Instance 1

Let us take the case where the employee was a good staff and leaving on a good terms. So, you, the owner, would like to let the employee still keep their access to the platform as they still own their equity. In such a case, you will not have to do much. All you need to do is change the employee’s email ID for access – that is if the employee was given the cap table access through their company email initially.

With this scenario, let us look at the steps to change the email and share access to the employee on their personal email.

Step 1: Log into your account. Select the company and from the dashboard, click on “shareholder” to be directed to the following page.

From here, let us assume that the employee is Tania Jones. You can see that they already have access to the cap table but with the company’s email. You need to first remove the access. To do this, click on “Access”.

Step 2: When you do this, a panel opens up where you need to click on “Remove access”.

Step 3: When you do this, the access will be removed and you will be redirected back to the shareholder list page where you will see the employee’s details as shown below.

From here, click on “Access”.

Step 4: A panel will appear again where you need to add in the email address of the employee. Remember to add the personal email of the employee when doing it.

Once you add in the email, click on the search button (the magnifying glass) beside the email field.

Step 5: This will bring up another panel where you can choose the kind of access you want to share. Since the employee left the company, you can share limited access with them. The shareholder access is perfect in this case. By default, this access tab comes up. All you need to do is click on “Provide shareholder access”. And the access will be shared.

Instance 2

In the second instance, let us say that the employee’s grant or options are revoked due to the termination. So, this will mean that the super user, will have to first delete the grants from the system and then delete the employee profile from the platform as well.

Here are the steps to do this:

Step 1: From the shareholder’s page, let us assume that Tania Jones is the employee who has been terminated. Remove the access first like done in the first few steps of the first instance. Once done, click on the name.

Step 2: Here, you will reach the page where you can see the grant ID. Click on it.

Step 3: You will be redirected to the page where you can see the grant details. Click on “Actions” and then on “Delete grant”.

Step 4: When you do this, a panel will appear asking if you are sure you want to delete it. Click on “Confirm and delete”.

Step 5: Once done, you will reach the options page where you can see that the grant has been deleted. From here, click on “Shareholders” again from the main menu to go to the shareholder list page. And then click on the employee’s name. You will reach the following page. To delete the employee’s profile, click on “Delete” from the top right-hand side of the page as shown.

Step 6: When you do this, a warning dialog box will appear asking if you are sure you want to delete the shareholder’s profile. Click on “Delete” to delete the profile.

And with this, the profile will be deleted. 

Just like this, you can easily remove an employee from your cap table platform on Eqvista. To know more or for any queries, check out our support articles here or contact us!