What are the responsibilities and job description for the Sourcing Specialist position at Cypress HCM?
Job Details
- Sourcing Specialist
- Location: Lehi, UT 84043 (Hybrid)
- Duration: 09/14/2026 - 11/30/2027 (Contract)
- Team: GS2P US
- Support Global Strategic Sourcing with primary focus on Employee Benefits and additional responsibility for Executive and Non-Executive Recruiting categories.
- Partner with category managers, HR, Total Rewards, Talent Acquisition, and Benefits teams to drive strategic sourcing, supplier optimization, and contract negotiations.
- Ideal for a sourcing professional experienced in benefits- and talent-related vendor sourcing in a fast-paced, collaborative environment.
- Lead and support medium- to high-complexity sourcing events across assigned categories including health and welfare plans, retirement and financial wellness programs, insurance brokerage and administration, wellbeing initiatives, executive and non-executive recruiting/staffing services, and other benefits- and talent-related vendors.
- Conduct supplier and market research to identify qualified benefits carriers, brokers, TPAs, executive search firms, and staffing/recruiting agencies; assess capabilities and support category strategy development.
- Manage end-to-end Source-to-Contract lifecycle including RFx execution, bid analysis, supplier selection, and contract negotiation.
- Evaluate supplier, carrier, and search firm proposals; perform pricing and cost-model analyses (including renewal/rate analysis and fee structures such as contingency, retained, and RPO models); develop data-driven recommendations for HR, Total Rewards, and Talent Acquisition partners.
- Negotiate master service agreements, statements of work, administrative services agreements, and amendments in partnership with Legal and internal stakeholders.
- Track, measure, and report sourcing outcomes including cost savings, service improvements, and vendor/carrier/agency performance metrics.
- Support ongoing supplier, carrier, and agency management activities including regular business reviews, renewal cycles, and performance monitoring.
- 3 years of experience in strategic sourcing, procurement, or a related function, preferably with exposure to employee benefits, health and welfare, insurance, HR-related services, or talent acquisition/recruiting.
- Working knowledge of Source-to-Contract (S2C) processes and RFx execution.
- Strong analytical skills with ability to interpret commercial proposals, evaluate cost structures (including plan rates, renewals, and search/staffing fee models), and develop insights to influence decision-making.
- Experience collaborating with cross-functional partners, particularly HR, Total Rewards, Talent Acquisition, and Legal.
- Ability to manage multiple sourcing projects simultaneously while maintaining accuracy and attention to detail.
- Exposure to global benefits and/or talent acquisition sourcing environments and matrixed organizations.
- Familiarity with sustainability or workplace-wellbeing initiatives as they relate to supplier selection and benefits design.
- Familiarity with executive search or staffing agency fee structures and market dynamics.
- Comfort with using AI-forward tools to improve productivity and sourcing outcomes.
- Pay Rate: $44.37/hour
Salary : $44