Excel Hyperlink to location within same file from word within cell

Good Afternoon

I am looking to see if it is possible to create hyperlinks from individual words in a cell.

For example I have three words in cell F1

Alerts, Employees, Schedule Viewing

Can I make it that:

Alerts links to one location
Employees to another
Schedule Viewing to another

I can get the whole cell to link to a location but ideally would like the individual words to have links.

Any help or ideas appreciated.