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The importance of conducting employee performance evaluation sessions is emphasized in this video tutorial, as it is seen as an imperative function for any business owner or manager. The speaker, Stephen Goldberg of Optimus Performance, acknowledges that many business owners and managers may avoid conducting these evaluations due to reasons such as a lack of knowledge or skills, lack of time, or employee reluctance. To help facilitate these sessions, he has updated an employee performance evaluation template to make the process easier.