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In this tutorial, Erin from Time Saving Templates introduces the newly added Employee Performance Review Template. This template is designed for users who need to copy and paste employee performance ratings for various purposes. It integrates with the variable compensation bonus calculation worksheet, allowing for the establishment of a bonus matrix based on performance ratings. Additionally, it connects with the annual merit increase template, enabling the determination of base pay increases according to performance ratings. The template features an all employee details page, initially blank and organized to accommodate 20 employees, with separate tabs for each.