what kind of values did the people (thanes) have?

The thanes would actually be considered the warriors rather than the people, and in essence you would be looking at heroic values within the culture portrayed and how they relate to their leader. The relationship between the Lord and then is immensely important, and the relationship between the thanes depends on loyalty and unity in purpose.

The thanes value loyalty above all else;

"Now the day has come that our liege lord has need of the strength of good fighters. Let us go to him, help our war-chief while the grime terrible fire persists." (Wiglaf reminding the other thanes of their lord-thane relationship with Beowulf).

There is also a special relationship between kinsman; Beowulf's men are in many cases not just thanes but also relatives.

The thanes valued courage, family, loyalty, honoring promises, fairness; they believed in taking vengeance rather than mourning.

We also have many Christian beliefs; fate is in God's hands;

"may wise God, Holy Lord, assign glory on whichever hand seems good to him."

"it is hard to read 'the will of God' for fate"

Beowulf was written at a time when Christianity had not yet taken a firm hold, and when paganism was still widely practiced.

Below you will find a link to an article I've written on Heaney's Beowulf

http://kaie-arwen.hubpages.com/hub/Seamus-Heaneys-Beowulf