The Maranello team targeted wins and the title in 2016, but instead have fallen behind second-placed Red Bull.
Mercedes team boss Wolff said: "In a way, Ferrari today reminds me of Mercedes a few years ago.
"We struggled to put all the right people in the right places. It is hard, time-consuming work, but for us it paid off in the end," he told La Gazzetta dello Sport.
The championship continues with the Malaysian Grand Prix next weekend.