Final answer:
Applicant tracking systems can miss out on talented candidates if they lack functionality that accounts for diversity and professionalized human resources practices to reduce bias.
Step-by-step explanation:
Applicant tracking systems (ATS) risk missing out on a substantial talent pool if they lack the ability to identify candidate attributes beyond traditional qualifications like degrees from specific schools or high grade point averages. Today, diversity and inclusion in the hiring process are increasingly important, but ATS that focus too heavily on specific qualifications can inadvertently exclude qualified candidates who may come from diverse backgrounds or who demonstrate skills and achievements in non-traditional ways. To combat biases, larger organizations and those that invest in professionalizing human resources functions often fare better in terms of creating more diverse and meritorious workplaces.