Employee exit management is when someone leaves their job, whether it's by choice or not. A job is like a game you play, where you go to work and do different tasks for your boss. Sometimes people stop playing the game because they find another game they like better, they need a break from playing, or they didn't follow the rules of the game and got kicked out. When someone leaves their job, there are things that need to happen to make sure everything is fair and everyone is happy.
First, the person leaving needs to tell their boss that they're leaving. Just like when you need to go home from playing with your friends, you need to let them know so they don't keep playing without you. Then, the boss will make sure that the person leaving gets all their stuff from work and gives them any money owed to them for playing the game.
After that, the boss will try and figure out how to keep playing the game without that person. They may need to find someone else to play the game or give some of the work to other people who are still playing. Just like when you lose a player in a game, you need to make some changes to keep everybody happy and having fun.
Finally, the boss will talk to the rest of the players to see if they're happy with the changes and to make sure no one else wants to leave the game. Sometimes when people see others leaving, they might want to leave too. The boss wants to make sure everyone is happy and wants to keep playing the game.