The Reds manager is facing mounting pressure at Anfield amid his side's poor start to the season.
Sherwood was speaking at his pre-match press conference ahead of tomorrow’s meeting with Liverpool at Anfield, which Rodgers’ men go into on the back of a run of four Premier League games without a win.
They also needed penalties to get past League Two side Carlisle United in Wednesday night’s Capital One Cup third round tie following a 1-1 draw after extra-time, leading to widespread calls from fans for the Northern Irishman to be sacked.
However, having lost both Luis Suarez and Raheem Sterling since leading the club to a second-place finish two seasons ago, Sherwood insists that his Reds counterpart is doing a good job of rebuilding his squad – even if he was not pleased to see him exploit Christian Benteke’s £32.5 million release clause in the summer.
"I get on very well with Brendan,” said Sherwood. “I have a lot of respect for him. I just wish he would have told me they were going to come for him [Benteke], but I pretty much knew.
“He's probably paying the price for overachieving a couple of seasons ago. He lost two of his best players - Luis Suarez in particular. That’s what can happen.
“There’s pressure on every manager at every different level," he continued. "I listened to people talking the other day about how this is the first time Jose Mourinho’s been under pressure, but he’s under pressure to win every single football match. Ok, it’s a different kind of pressure but it’s still pressure.
“He’s rebuilding. He knows how he wants to go about it and I’m sure he’ll get it right.”
Villa themselves have endured a slow start to the season, having gone without a league win since the 1-0 opening day victory at top-flight new boys Bournemouth to leave them sitting in 17th-place in the table.
Tuesday night’s 1-0 Capital One Cup win over bitter rivals Birmingham City has helped lift the mood around the club ahead of the trip to Anfield, though, and Sherwood is confident of a positive result going into the game.
"Any time is good to play Liverpool because it’s such a good experience to go to Anfield,” he added. “They haven't got as many points as they would've liked but nor have we, and we’re two giants clubs.
“It’s probably not a good time to play us.”