While the news of Hamilton's departure represented a significant blow to the Brackley-based outfit, there is optimism within the ranks given the team's recent improvements.
After enduring a disappointing start to the season, both Hamilton and Russell have secured race victories in recent months, and have consistently featured on the podium.
And despite remaining some way off championship leaders Red Bull in the constructors' championship, there have been signs that the gap is beginning to close.
Speaking to media at last weekend's Italian Grand Prix, Mercedes boss Wolff admitting that spirits are high in the team garage, and swatted aside suggestions of relationships suffering as a result of Hamilton's decision to leave.
"It's great," said the Austrian. "It's super productive, the way we work with each other.
"The spirits are high - we enjoy F1, all of us together. The relationships between Lewis and the team members have not at all been impacted, on the contrary.
"I feel there's a really, really good mood in all of us working together."