Spurs were seventh when Sherwood was announced as successor to Andre Villas-Boas in December, having just been thrashed 5-0 at home by fellow top-four contenders Liverpool.
Since then the club have gone on a great run in the Barclays Premier League, losing just once since Sherwood took over and recording impressive wins at Manchester United and, more recently, Newcastle.
The 45-year-old, in his first managerial post, takes his fifth-placed side to struggling former club Norwich on Sunday looking to pick up another three points.
Sherwood highlights making his players feel wanted and giving them a fair chance to impress as a reason for their current run, which was dented slightly with a 1-0 Europa League round-of-32 first leg loss in Dnirpo on Thursday.
"We made a lot of changes at Newcastle as well as Dnipro," he said.
"Everyone's going to be part of it. There is no point me telling them 'We're going to need everyone' and then never changing it.
"We've been shuffling the pack and still getting positive results. So all the players feel loved and wanted."
Norwich will go in to the game just one point outside the Premier League relegation zone but Sherwood does not feel Canaries' boss Chris Hughton is the favourite to be the next top-flight manager to lose his job.
"Is he under more pressure than anybody else? I don't know if he really is," Sherwood added.
"Every manager in the Premier League is under pressure. You are only ever one game away from a 'disaster'. Chris knows he is under pressure but he also knows if he wins the pressure will ease, like it does for all of us."
Spurs captain Michael Dawson worked with Hughton during his coaching spell at White Hart Lane and has also backed the 55-year-old to keep Norwich up.
"Chris is a top guy," he said. "He has been there a while and has done a great job. He can do well there.
"There are plenty of teams fighting for survival and we are fighting for different things and we have to concentrate on ourselves.
"It is the exciting time of the year. Everyone is playing for something and there is not one team in the Premier League not fighting for survival or European football.
"Everyone from 10th to 11th is fighting for survival and if you are seventh or eighth you still think you can get a Champions League spot, that is how tight it is.
"Liverpool, Manchester City, Arsenal and Chelsea are in a better position than us at the moment but football is a funny old game and it can change over one night."