You can add an email template to the "New" workflow status within the Workflows tab (Only accessible if you have the Admin or Owner role).
Click on the Workflows tab.
Click on the appropriate workflow name. In this example, it would be "Standard workflow".
Click "Add Action"
Click on "Select Action..." and choose "Email A User" from the drop down window.
Click on "Select Template" and choose the appropriate email template from the drop down window. You can see the content of each email template within the Templates tab > Email Template > click on the eye icon.
Click on "Select Recipient" and choose "Applicant" from the drop down window.
Click on "Select Sender Option" and choose the appropriate Sender. The default company email address is what the Owner role has entered in the "Default Company Email" field within the Account tab (Only the Owner role has access to the Account tab).
The "Action" will save automatically. Now, when applicants apply, the applicants will get a email notification.