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In this tutorial, Erin from Time Saving Templates introduces the recently added employee performance review template. The template is designed to facilitate the integration of employee performance ratings into various company tools, such as the variable compensation bonus calculation worksheet and the annual merit increase template. These tools utilize the performance ratings to establish bonus matrices and base pay increases for employees. Erin presents a blank version of the template, highlighting the "All Employee Details" page, which is set up for managing performance data for 20 employees, with separate tabs for each individual.