AIB announced that it will become the first bank in Ireland and Northern Ireland to offer healthcare coverage to all of its workers.
The bank also announced that, if a number of performance goals are met within the company, it will implement a measured variable compensation plan.
Bonuses, shares, and other one-time or yearly incentives are examples of variable compensation.
It claimed that these new efforts will support the bank's efforts to draw in and keep workers.
The bank said that, as of January 1, all of its workers would have access to a plan that offers a variety of health benefits, as well as treatment facilities and services from Vhi and Bupa.
It further stated that variable compensation in AIB will not exceed 5% of an employee's salary, with a maximum of €12,700 per employee, while variable pay for Irish banks is still limited by the government to a maximum of €20,000.
Payment will be contingent upon the fulfilment of group performance requirements, such as group financial performance, customer satisfaction ratings, targets for green lending, and gender parity among employees.
AIB and the Financial Services Union have also decided that staff members will receive a €1,000 voucher in November of this year.
According to David McCormack, Chief People Officer of AIB, the organisation continues to place a high premium on the health and happiness of its workforce.
"The introduction of healthcare is a very significant step forward and a demonstration of our continued commitment to providing a supportive workplace in AIB," he stated.