Albion have a group of players out of contract or approaching the final 12 months of their current deals in James Morrison, Jonas Olsson, Keith Andrews, Nicky Shorey, Steven Reid, Paul Scharner, Jerome Thomas and Marc-Antoine Fortune.
But Hodgson is not expecting any swift decisions on their futures.
He said: "I don't think the situation we are in is any different to any other club. Every club has players who are either running out of contract or entering the last year.
"It is part and parcel of this time and year and trying to prepare for the next season.
"We've got time and most squads won't be finalised until August. That is how it's been the last few years and that is how it will be this year.
"I hope the players we are holding talks with would love to stay, I hope they sign the contracts and stay with the club."