Employees are encouraged to do their jobs and do them well. However, to increase their compensation package they're going to have to do a lot more.

Earning more money for doing the same old job isn’t likely to happen. Most employers only give a standard annual salary increase as part of a regular performance management plan. However, some employers are willing to incentivize employees even more if they take the initiative to further their skills, knowledge and education.

This means that if employees expect to get a decent salary hike, they need to look at how they are being paid for what they currently do for their organization and figure out opportunities to make themselves even more valuable.

Here are eight suggestions on how employees may be able to increase their salary without quitting their current job.

Learn a Critical New Skill

Employees should never stop learning. It not only benefits the organization, ultimately it benefits them personally, because once a skill is learned it can be taken wherever they go. This means that even if their current employer doesn’t provide extra income for this critical new skill, somewhere down the line another company may. New skills might include learning a second language or new computer programs, or cross-training with a coworker.

Complete a Degree

Some organizations pay more for degrees, especially graduate degrees. On top of that many employers offer educational reimbursement programs that can help defray the cost of obtaining the degree. This puts employees in a unique win-win situation: receive financial assistance to obtain a degree that earns a higher salary. Tough to turn this opportunity down!

Earn Certification

Depending on an employee’s career field, earning some type of certification may net him additional compensation. In IT this might translate to A+, MCSE (Microsoft Certified Systems Engineer) or CCNA (Cisco Certified Network Associate) certification, while an administrative assistant might become a CAPCM (Certified Administrative ProfessionalCM) or an Administrative Expert (EA). An accountant can get his CMA (Certified Management Accountant) and a human resources professional can obtain a PHR (Professional in Human Resources) designation. Employees are encouraged to investigate their field of interest to determine what certification programs might be applicable.

Become Indispensable

Being a valuable asset to the team not only places an employee in the position of earning more money, it may help to shore up job retention in a shaky economy. To become an indispensable part of the team, be recognized for doing good work with positive results that impacts or influences the organization’s central purpose.

Prove You Deserve More

This means employees need to provide facts and figures that support the notion that they are working at a higher level than where they currently fall within the company’s established salary range. Employees can determine where they fit in the salary range by speaking to a human resources representative as well as how they can increase their worth by speaking to their supervisor.

Get Promoted

Okay this is sort of like getting a new job, only the employee doesn’t have to quit to do it. Seeking other opportunities within the company is one of the smartest ways an employee can get ahead, continue being challenged, learn something new and increase his income.

Lead a Special Project

Sometimes organizations have special projects that need to be implemented in order to stay on the cutting edge of new technology, methods, systems or processes. Employees can improve their financial future by becoming part of the design and implementation team. Not only can this type of project aid in improving the amount of an employee’s annual increase, many companies pay a special incentive or bonus for participation and timely completion of these types of projects.

Take it Out in Trade

Can’t get a cash raise, how about something equivalent? Consider getting more vacation or another perk like a company car, cell phone or laptop.

While employees need to speak with their supervisor to discuss what they can do to improve their chances of increasing their compensation, they should be prepared to offer some suggestions of their own. They just may find out they can increase their salary without quitting their job.