Payroll must move from back office to boardroom, says Vistra’s Curtis Holmes

Payroll cannot remain an administrative afterthought if organisations are serious about workforce health, strategic growth and trust. That is the view of Curtis Holmes, Executive Vice President, Global Payroll at Vistra, the global business services provider operating across 170+ countries with over 9,000 employees. “As CEO of payroll provider iiPay, Holmes led the company through its acquisition by Vistra in 2025. Today, he leads a team of 1,500+ payroll professionals worldwide who deliver over 11million+ payslips annually.

The global payroll market is worth around US$40bn and is forecast to grow by 5.4 per cent by 2030. Holmes wants Vistra’s payroll division to outpace that, targeting 3-5 times the market growth rate through technology, by delivering “progress without friction” and creating an exceptional client experience.

“Payroll has traditionally sat in finance,” he says. “But it doesn’t belong in a silo. It spans finance, HR and people and culture. It touches data, compliance, reward, benefits, pensions and workforce planning. More importantly, it touches people.”

He believes where payroll sits structurally does matter – particularly for employee wellbeing. “If payroll is viewed purely as a cost centre, you miss its strategic value. Payroll is about people. It’s about whether someone can pay their rent, support their family, or feel secure at work. That links directly to psychological safety.”

Accuracy is non-negotiable

Holmes is clear that global payroll is complex and unforgiving. “Payroll has to work and it must be accurate 100 per cent of the time. There is no margin for error. If you get payroll wrong, you damage trust immediately.”

The Global Payroll Association’s recent research found that 25 per cent of payrolls contain errors. Holmes says that figure should concern leadership teams. “One incorrect payslip can undo months of positive employee engagement work. Financial stress remains one of the biggest drivers of poor mental health at work. If pay is late or wrong, it creates anxiety. That anxiety doesn’t stay at home. It comes into the workplace.”

For employers focused on workplace health and wellbeing, he argues, payroll accuracy is a frontline intervention. “We talk about wellbeing strategies, mental health support and resilience programmes. But if payroll isn’t right, those conversations ring hollow. Trust starts with being paid correctly and on time.”

From transaction to insight

Holmes wants payroll to move beyond processing to providing insight. “Clients need data. They need insight into what our teams see every month. Payroll data tells employers a huge amount. They can see overtime patterns, absence trends, workforce costs, pension contributions and benefits uptake. That information supports strategic insight and decision-making.”

He says Vistra’s clients now see payroll as part of the strategic leadership function. “If payroll isn’t included in leadership conversations, it becomes impossible to plan properly. You cannot make informed workforce decisions without accurate, real-time payroll data. That affects hiring, retention, reward strategy and long-term cost modelling.”

In a UK context, where organisations are grappling with absence, ageing workforces and rising employment costs, payroll data can help leaders understand the financial pressures facing their people. “Payroll teams see the reality of salary sacrifice, pension contributions and statutory payments. That insight should inform wellbeing strategies.”

Breaking down silos

Holmes repeatedly returns to one theme: unity. “People functions cannot operate in silos. Finance, HR, people and culture need to work together. Payroll sits at the intersection. It should be the connective tissue.”

He believes that integrated thinking is essential as organisations adopt more flexible reward models, from earned wage access to benefits integration. “Flexibility increases complexity. The more personalised you make rewards and benefits, the more important payroll becomes. It must integrate seamlessly with benefits platforms, pensions and reporting systems.”

Technology, he says, is the enabler. “My vision is zero-touch payroll. Automated, compliant, accurate processes with minimal manual intervention. Technology should remove friction so payroll professionals can focus on people and insight.”

AI, in particular, will shape the next phase of payroll’s evolution. “AI can help with anomaly detection, compliance monitoring and forecasting. It allows payroll to move from reactive to predictive. That supports better workforce planning and stronger return on investment, whether an organisation is purpose-led or profit-led.”

Financial wellbeing and education

Holmes also believes payroll teams have a role to play in improving financial literacy. “We underestimate how few employees fully understand their payslip. If someone doesn’t understand tax, national insurance, pension contributions or salary sacrifice, they may not see the true value of their employment package.”

He argues that better education around payslips and total reward can reduce financial anxiety and improve engagement. “Helping employees interpret their payslip is a simple but powerful step. It helps them see not just what they earn today, but what is being invested in their future through pensions and benefits.”

For UK employers concerned about financial stress as a workplace health risk, this is a practical intervention.

The risk of exclusion

Asked directly about the risks of excluding payroll from wellbeing discussions at leadership level, Holmes is frank. “You create blind spots. Without payroll input, wellbeing strategies can become disconnected from financial reality. You might introduce initiatives that look good but don’t align with how people are actually paid or rewarded.”

He also warns of operational risk. “Global payroll is complex. Different jurisdictions, regulations, tax systems and reporting requirements. If payroll is not represented at leadership level, you increase the risk of compliance failures. That has reputational and financial consequences.”

Looking ahead five years, Holmes expects payroll to play a more visible role in organisational resilience. “We will see payroll fully embedded within strategic planning. Automated, data-led, people-focused. Zero friction in process, high value in insight.”

For a market already worth $40bn globally, and growing steadily, that shift represents both commercial opportunity and cultural change. “Payroll is not just about numbers. It is about trust, stability and psychological safety. If we get it right, we support healthier, more resilient workforces. If we get it wrong, the impact is immediate.”

In the UK workplace health and wellbeing conversation, Holmes’ message is simple: start with pay. “Before you talk about engagement, before you talk about culture, make sure payroll works. Everything else is built on that foundation.”