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In this tutorial, Erin from Time Saving Templates introduces the new Employee Performance Review Template. This template is designed to facilitate the process of copying and pasting performance ratings for employees, which is essential for several other templates, including the Variable Compensation Bonus Calculation Worksheet and the Annual Merit Increase Template. Both of these templates utilize the performance ratings to create bonus and pay increase matrices based on individual employee performance. Erin showcases the blank version of the template, which is structured to accommodate 20 employees, with a dedicated tab for each employee’s details.