Your company is hiring. It's inundated by resumes, applications, letters of recommendation. Once you've found the perfect match for the job, you can click delete and let the rest of the applications go, right? No way. Keep those suckers around -- for years.
Federal record keeping requirements are strict. Failure to hold onto applications can open you up to litigation, from applicants and from the EEOC, as Coca-Cola learned the hard way a few weeks ago.