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In the video, the presenter highlights the necessity of completing an employment application, even after crafting a polished resume and cover letter. The reason behind this requirement is to give employers a formal record of each candidate's personal and employment history, which must be verified and signed by the applicant. Many employers use standardized applications to collect consistent data for all job seekers, as resumes and cover letters can vary significantly in format and content. By using the same application form for every candidate, employers ensure they gather uniform information, facilitating an equitable comparison of all applicants.