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In this tutorial, Erin from Time Saving Templates introduces the new employee performance review template. This template was developed to support various existing templates that require performance ratings for employees, such as the variable compensation bonus calculation worksheet and the annual merit increase template. Both tools utilize performance ratings to set up bonus matrices and base pay increases, respectively. Erin presents a blank version of the template, showcasing the "All Employee Details" page, which is designed to accommodate data for 20 employees, with separate tabs for each individual.