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Erin from Time Saving Templates introduces the newly added employee performance review template. This template facilitates the integration of performance ratings into various other templates, such as the variable compensation bonus calculation worksheet and the annual merit increase template. These tools enable users to establish bonus matrices and determine base pay increases based on employee performance ratings. The presentation includes a blank version of the template, showcasing the "All Employee Details" page, which is prepped for use with up to 20 employees, with separate tabs for each employee.