In the context of growing business internationalization, values held by modern managers and their importance on people management in a multicultural environment are a topical and pertinent area of research. Values support managers in the realization of their visions, missions, and goals, all of which directly influence the effectiveness of the whole organization. Values play a significant role in multicultural environments, where they can act as a team bonding factor. The study described in the article is a mixed methods study: it combines traditional analysis of the subject literature and an empirical study. The results of the Corporate Values Index (CVI) study are described in the first part and used as the starting point for the preliminary study conducted by the authors of the article. The aim of CVI study was to answer the questions what values dominate in companies and how widely these values are incorporated in management. The next part presents the findings of the pilot study (8 telephone interviews) conducted by the authors, which they held with Polish managers working in multicultural environments. This pilot study is an introduction to a larger research project which will be conducted among managers working in international companies in Poland, Spain, and the Czech Republic. The article ends with the conclusion that the values held by managers are extremely important and affect a multicultural work environment. The main aim of the article is to demonstrate the role and significance of values held by managers working in multicultural environments.