QPR are without a full-time manager at the moment, having sacked Chris Ramsey as their head coach earlier this month.
Neil Warnock is in charge of the first team at the moment, but the search is on for a permanent replacement for Ramsey.
Former Rangers attacker Ephraim, who is currently without a club, believes that the Championship side need to get the right man.
“I fear if they don't get this appointment right and they don't get promoted soon, I can see them spending a few years in the Championship at best or even worse,” the 27-year-old told Get West London.
The Championship is a very tough league and is arguably more competitive for the Premier League.
It is not easy for teams to bounce straight back up to the English top flight, and it is important that QPR get promoted inside the next two years.
Clubs like Blackburn Rovers, Nottingham Forest, Charlton Athletic and Fulham were all playing Premier League football not so long ago, but now they are stuck in the second tier of English football.