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In this video, Erin from Time Saving Templates introduces the newly added Employee Performance Review template. This template is designed to assist users in managing employee performance ratings, as several existing templates require pasting these ratings. The tutorial highlights the template's compatibility with a variable compensation bonus calculation worksheet and an annual merit increase template, both of which utilize these performance ratings to establish bonus matrices and pay increases based on individual employee performance. Erin presents a blank version of the template, showing that it is set up to manage details for 20 employees, with separate tabs for each.
