Final answer:
Timmy's approach to resolving conflicts by balancing everyone's needs is known as the compromising conflict management strategy.
Step-by-step explanation:
Timmy is known for his ability to balance the needs of his coworkers with his own to reach solutions during conflicts. This approach to conflict management strategy is referred to as compromising. Compromising involves making concessions and finding a middle ground where all parties involved give up a part of what they want to achieve a mutually acceptable solution. It's important in situations where there is a need to resolve disagreements and move forward, especially in a work environment or in collective decision-making processes.