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In this tutorial, Erin from Time Saving Templates introduces the new Employee Performance Review Template. This template allows users to input employee performance ratings, which can be integrated into other tools such as a variable compensation bonus calculation worksheet and an annual merit increase template. These tools help create a bonus matrix and determine salary increases based on performance ratings. Erin provides an overview of the blank version of the Employee Performance Review Template, showcasing the all employee details page designed for up to 20 employees, with separate tabs for each individual.