Wealthy bosses who earn thousands - and millions - in bonuses should be forced to invest their money in underpaid staff, a report has warned.
Corporate governance laws should be tightened to put pressure on bosses to help employees increase their salaries, the Social Market Foundation (SMF) said.
Company directors should have a legal duty to turn rising profits into higher pay and training for workers, it added.
The think tank also called on pension funds and other big investors to support companies that deliver long-term increases in pay and training.
A report supported by the Joseph Rowntree Foundation said the national minimum wage acts as a "ceiling" for many workers, leaving them stuck at the bottom of payscales.
The report recommended a number of measures, including a new requirement in the Companies Act for directors to make sure workers share in the growth of a firm, and new reporting requirements on wages and training.
SMF researcher Nicole Gicheva said: "The best employers already know that paying and training staff well is good for business: they keep workers for longer and get more out of them.
"Corporate governance laws should be updated to encourage all firms to meet the standards set by the best."
Louise Woodruff, of the Joseph Rowntree Foundation, said: "Low-income voters are likely to play a key role at the next election. They want to see their leaders delivering better-paid and more secure jobs that boost their living standards and opportunities to improve their skills.
"All the political parties would be wise to make this a priority, if they want to win enough support to form a government."
