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In this video, Erin from Time Saving Templates addresses a common question regarding the Variable Compensation Bonus template. She explains how to use the template found in the Human Resources spreadsheets section. The template requires users to fill out information in green cells, while white cells are optional. Gray cells automatically calculate based on the provided data. Erin discusses managing the template when sending it to different managers for input and how to consolidate their responses once received. There is also a mention of a separate video that details using the template further.