We use Workday to manage the employee core data, and Workday is feeding the employee data to HR Profile table through SFTP integration. If an employee lefts, the employee status will be changed so the employee status in Workday will update same employee status in ServiceNow HR profile table
You would use same approach to create an integration between your HR software and ServiceNow HR profile to feed employee data to ServiceNow. When the employee left the company, the updated employee status will fed into ServiceNow HR profile to update the employee status to false.
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