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In this tutorial, Erin from Time Saving Templates introduces the newly added Employee Performance Review Template. This template facilitates the integration of employee performance ratings into various other templates, such as the variable compensation bonus calculation worksheet and the annual merit increase template. These templates allow users to establish bonus matrices and set base pay increases based on the performance ratings. The tutorial demonstrates the blank version of the employee performance review template, showcasing the "All Employee Details" page, which is designed to accommodate up to 20 employees, with separate tabs for each individual.