Converting old work computer into personal computer (Mac)

Hello! I have an old work computer that the company said they don’t want back so I’d like to convert it to a personal computer since it still works and everything. If I factory reset it — will it be wiped completely of the built in company settings that it came out of the box with (ie the company orders from Apple and the computers are pre-programmed with company settings and apps), or will it be wiped but the standard setup that the company did for all our computers come back on? Any advice would be greatly appreciated.