A new feature was added to the applicant spreadsheets today to enable bulk updates of status and/or shortlists (projects).
To use, check the checkboxes to the left of Applicant Name(1). Either Select All on page by clicking top checklist, or check individual applicants. Once you have selected your applicants, click on the Update Button on right side(2).
When you click the Update Button, you will get a popup(shown below) that enables you to choose the Status and/or the Shortlists you would like to change all selected applicants to. Once chosen, click the Update button within the Popup and you are done. All selected applicants have been assigned to the new Status and/or Shortlist.
The functionality of clicking in the Status or the Shortlist dropdowns directly on spreadsheet and changing individual applicants remains for when you want to change one by one.