Once again, you're misunderstanding the goal of the system if you think that it's necessary to deliberately whittle down hundreds of good applicants through careful process to get a great hire.
Hint: you don't even need to evaluate most candidates at all. Random sampling is sufficient and provably bias free.
Reminds me of something I heard once.
> Whenever I get a stack of resumes, I throw half of them in the trash
> I sure don't want unlucky people on my team.
What do you send them as a response "sorry, we're going ahead with other applicants" - "you have not been selected this time" -- what happens if you start needing to dig through that pool of now rejected candidates?
Peak humanity.