QPR bowed out of the Premier League after going down to a 1-0 defeat to Liverpool in Jamie Carragher's final game for the Reds.
Redknapp knows he has a big job on his hands to get QPR back into the Premier League and he admits he needs to make wholesale changes to the squad.
"There are lots of changes needed in the summer if we are going to make a challenge next year that's for sure," Redknapp told Sky Sports.
"It is no good saying we are a great team - you don't finish bottom if you are a great team. We have been short all season, short of that little bit of quality that is needed.
"I have got to get a squad together, a group together that are going to do it week-in, week-out to try and get us out of the league.
"It will be difficult, but we will have a go next year."
Redknapp admitted his fight to try and keep QPR in the Premier League had been undermined by issues off the pitch with a number of players.
"It's a big challenge. We will have to see what we can do over the summer," added Redknapp.
"I want to come back with a team that you don't have too many problems off the pitch with. I want people who want to come in on time, who work hard, train hard, that is all I am asking.
"I am too old to have aggravation every day of my life with players so I have got to change things around next year.
"There has been too much of that this year and it's not enjoyable so unless I change it around I will have to look and see where we go."
Redknapp also paid tribute to retiring Liverpool defender Carragher as he bowed out in style with a win and a clean sheet.
"Fantastic, what a player, what a man," added Redknapp. "I just love him as a footballer, he is an absolute credit to the football club."