The Royals finished seventh in the Championship last season and will be aiming to return to the Premier League at the end of the 2014/15 campaign.
Following the sale of striker Adam Le Fondre to Cardiff City last month, Reading will be looking to recruit a replacement before the start of next season.
Now, Hammond has hinted that more players will arrive at the Madejski Stadium before the end of the transfer window.
"We want to add - and for sure we're going to have to look at the top of the pitch," GetReading.com quotes him as saying.
"Selling Alfie (Le Fondre) was necessary. It was about making sure the future of the football club was secure.
"My discussions with the board were that the deal had to be done, but no club really should be looking to sell their top scorer.
"We've taken goals out of the team and if you’re going to do that then, you're going to need to replace them otherwise you give yourself a problem.
"So, dependant on where the ownership discussions finish up, we want to add.
"But there’s also an opportunity for others to step forward, be it existing first-team players or the younger players.
"I'm always very conscious when I say that because people tend to think ‘we’re not going to spend any money and are going to go with the young players'.
"People can be a little bit cynical about that at times, but the future of this club is the academy and young players."