In Access this would be a simple binary many-to-many relationship type between employees and equipment. Such a relationship type is modelled by an EmployeeEquipment table which resolves the relationship type into two one-to-many relationship types between an Employees table and the EmployeeEquipment table, and the Equipment table and the EmployeeEquipment table.
The EmployeeEquipment table would have foreign keys EmployeeID and EquipmentID, referencing the primary keys of Employees and Equipment respectively. It might have other columns rep[resenting attributes of the relationship type such as the dates between which the equipment is held by the employee for instance.
You might like to take a look at DatabaseBasics.zip in my public databases folder at:
https://onedrive.live.com/?cid=44CC60D7FEA42912&id=44CC60D7FEA42912!169
This little demo file illustrates, amongst other things, how different relationship types are modelled in Access. The section on 'entering data via a form/subforms' includes a simple contacts form which illustrates how the relationship type between contacts and employers is represented in the user interface by means of a subform which is based on the ContactEmployers table which models the many-to-many relationship type between contacts and employers as described above.