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In this tutorial, Erin from Time Saving Templates introduces the new employee performance review template, designed to complement existing templates that require employee performance ratings. This is essential for tools like the variable compensation bonus calculation worksheet and the annual merit increase template, which utilize performance ratings to establish bonus matrices and base pay increases. The tutorial showcases a blank version of the template, specifically focused on the all employee details page, which is set up to accommodate data for 20 employees, with individual tabs for each employee's information.