Parkinson himself endured a similar struggle during his time as manager of Bolton Wanderers.
The 58-year-old led the Trotters to promotion into the Championship in 2016-17, although, after keeping them in the second tier in 2017-18 amid huge financial struggles at the club, Bolton were relegated in 2018-19.
They later entered administration and Parkinson left the club.
Despite the Owls’ current struggles, Parkinson remains fully aware that his side can take nothing for granted when they head to Hillsborough on Saturday.
“I’ve been there before myself so it’s never easy, but the focus has got to be on ourselves at the weekend and what we’ve got to do to maintain our position in the league,” he added.
“Over the years, I was looking at it, we’ve had games in each division where you go to a team down the bottom and you’ve got to steer away from the narrative that you’ve just got to turn up and you’re just going to win.
“We’re up against a team playing with a lot of pride and a lot of determination and they’re right in games.
“We’ve got to go and earn it. It’s as simple as that.”
Sheffield Wednesday have won just once in 28 Championship matches this season and head into the contest with Wrexham having lost five successive league games.
Wrexham sit sixth having earned three successive away league wins for the first time in the second tier.