I would not advise using CF on an entire sheets, as it will slow your sheet down tremendously
Does your word always appear in the same column ( different rows)?

If so, select a number of rows starting in row1 ( again, not too many and not necessarily all columns) at once then use the following assuming your words appear in col C
=ISNUMBER(SEARCH("withdrawn",$C1))
and format as required


If in different columns
try

=SUMPRODUCT(--NOT(ISERROR(SEARCH("withdrawn",$A1:$Z1))))>0
as CF
(there should be something more elegant)

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