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In the video tutorial, the presenter highlights the significance of completing an employment application even after creating a resume and cover letter. Employers require this application to have a verified and signed record of an applicant's personal and employment history. The uniform format of employment applications ensures that all candidates provide consistent information, allowing employers to compare applicants effectively. Unlike resumes and cover letters, which vary by individual, the application standardizes the data collected, making it crucial in the hiring process. The presenter promises to further elaborate on the importance of this step throughout the application process.