The champions return to action when Arbroath visit Ibrox on Saturday, with boss Ally McCoist able to call upon his full squad for the first time this term after the Gers' registration embargo was lifted last week.
All of McCoist's eight summer signings are in line to play and Templeton knows those in possession of the Light Blue jerseys can't afford to let their standards slip.
He said: "I think the new signings just keeps players on their toes. They know they have to perform well in training and in games or else they are not going to be playing, basically.
"It is a good squad the gaffer has got to choose from. If everyone is doing well, it gives the gaffer more headaches. It is great for the gaffer to have so much choice.
"Last year we didn't have the biggest of squads. The gaffer didn't have much time to put a team together.
"Last season, even if you didn't play well, a lot of the time you were still playing the following week because there wasn't much of a squad.
"This season there are a lot of boys that have been brought in and there is competition for every place in the team.
"If you don't play well then you can't just see yourself starting the next week. You need to make sure you are doing well week in, week out."
Even without most of their new recruits, Rangers have made a flying start to the League One campaign and boast an impressive perfect record thus far.
The Gers have netted 18 times in four league fixtures against Brechin, Stranraer, Airdrieonians and East Fife and Templeton is confident the Light Blues can continue to hit the goal trail this term.
"We have picked up a few good wins and we are unbeaten in the league, which we want to carry on for as long as possible," he told RangersTV.
"We have the new boys still to come in as well, which is only going to help the team and help our performances on the park.
"I think that ruthless streak is what we missed last year. When we went one or two goals up we didn't kill teams off and it always gave them an opportunity to get back in the game, especially at home.
"We were 1-0 up a couple of times and teams would score a goal late on.
"This season, when we do score, we need to go on and take advantage of that and get as many goals as we possibly can, as the gaffer has been saying."