Having found themselves 12th in the table when Dalglish returned, the Reds fell narrowly short of securing Europa League qualification after suffering defeats in their final two matches to Tottenham Hotspur and Aston Villa.
Gerrard reflected to liverpoolfc.tv: "Sometimes it is important to stay grounded and have a little reality check. The last two results will help next season because it sends a message to players and fans that we are not the finished article.
"There is still an awful lot of hard work left. But we don't mind that."