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In this video tutorial, Erin from Time Saving Templates introduces a new Employee Performance Review template. This template was created to facilitate the incorporation of employee performance ratings into various existing templates, such as the variable compensation bonus calculation worksheet and the annual merit increase template. These tools allow users to establish bonus matrices and merit increases based on employee performance. The video showcases a blank version of the template, highlighting the "All Employee Details" page, which is designed to accommodate up to 20 employees, with separate tabs for each individual.