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In this tutorial, Erin from Time Saving Templates introduces the new Employee Performance Review Template. This template was created to facilitate the integration of employee performance ratings into various other templates, including a variable compensation bonus calculation worksheet and an annual merit increase template. Both of these existing templates require performance ratings to establish a bonus matrix and determine base pay increases based on employee ratings. Erin demonstrates the blank template, highlighting the "All Employee Details" page, which is designed to accommodate up to 20 employees, each with its own tab or page for individual performance details.