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Erin from Time Saving Templates introduces a new employee performance review template. This template is designed to streamline the process of incorporating employee performance ratings into various documents. It supports a variable compensation bonus calculation worksheet that utilizes performance ratings to establish a bonus matrix and an annual merit increase template for determining base pay increases. Erin presents a blank version of the template, which is organized to hold details for up to 20 employees, with separate tabs for each employee's information.