This whitepaper addresses the increasing recognition of preprints in academic research, particularly within the biosciences, and offers comprehensive recommendations for institutional policies and practices to enhance their adoption. Preprints—manuscripts shared publicly before peer review—have gained traction as effective tools for knowledge dissemination, exemplified by their pivotal role during the COVID-19 pandemic. Despite the clear benefits of preprints, such as expedited visibility and citation potential, institutional recognition remains insufficient, particularly in contexts like hiring and promotion, which rely heavily on traditional peer-reviewed publications.