Rovers have won just two of their first 11 League games and currently sit second from bottom of the Premiership table.
However, chief executive John Williams is convinced that Souness can get the club back to winning ways.
He told The Sun: "We've got to get our heads down and work through this. There will be no knee-jerk reactions and I firmly believe we'll get ourselves out of this.
"I know all the players are right behind Graeme and the board are too."