Seth M. answered 06/06/20
Priest with a Master's in Theology, Teaching Religion for 20+ years
"Worldly" is a qualifier of "values" in this phrase, so this simply means those values associated with or common to "the world." These values include a pursuit of pleasures, wealth, reputation, rank, power, comfort, and so on. When the phrase is employed in a religious context, it is generally intended to be negative and in contrast with religious values. Religions such as Christianity tend to promote a different set of values: self-giving love, humility, personal virtue, etc.