I've given this a significant amount of thought, with the end result being that to make a better experience for the job seekers you need to improve the experience for those seeking applicants as well. My initial thoughts are detailed better over at http://ismarc.tumblr.com/post/1458764869/hacking-the-hiring-.... I don't have a solution, and may never, but hopefully it'll jog your brain in a direction I haven't thought yet.