If the guy’s employer is happy with it, then get the money from the employer.
By issuing a chargeback, PayPal has basically said that they are siding with the customer and not you. As has been pointed out in other threads, payment by credit card (or through PayPal) is only one method of payment.

Assuming you had a valid contract with the guy, he is still legally liable for payment of services delivered according to the contract. If you’re in the U.S., send him a certified letter demanding payment within a specified amoutn of time, otherwise you will take him to small claims court to recover the amount due. (Different countries may have different recourse methods.)

I just re-read your post and I think some more clarification is needed.
1) Who was the client?- the employee or the employer?
2) Was it a company credit card issued to the employee or personal credit card belonging to the employee?

It seems that you should be trying to collect form the company instead of the ex-employee.