Leverkusen lost second spot in the Bundesliga at the weekend after losing 1-0 to Mainz.
That came after a disappointing 10 days in which they were knocked out of the DFB-Pokal and saw their Champions League hopes practically ended with a 4-0 defeat at home to Paris Saint-Germain, as well as two further Bundesliga reverses.
Nevertheless, Schade says Hyypia does not need to fear for his job.
"He can be sure that he has the faith of the managers," Schade told the Rheinische Post newspaper.
"I don't believe that in just three weeks, everything that was fine before can suddenly be wrong."
With Borussia Dortmund ousting Leverkusen from second and both Schalke and Wolfsburg closing in, their place in the Champions League next season is no longer looking so secure.
However, even if they were to miss out on a top-four finish, Schade says it would not be a tragedy, even though it would be regrettable.
"The Europa League would not mean failure for us," he said. "That would mean we have reached our objective.
"However, we would be disappointed to miss out on the Champions League when you consider it looked so good for us for such a long time."