Season 2005/06 culminated in a fine 10th place finish and saw the club receive the UniBond League Club Of The Month Award, Fair Play Award and Goalscorers Award for April 2006. Dynamo also reached the finals of both the Loughborough Charity Cup and the Coalville Charity Cup.

Manager Peter McGurk resigned on 20 December 2006, with the club in 15th place, and he was replaced by his assistant Adam Stevens who was appointed for the remainder of the season. Stevens himself resigned on 14 April 2007 after a 1-6 defeat at second-bottom Chorley left Dynamo in 20th place (5th bottom). It was announced that Dave Wheatley would take charge of First Team affairs for the final three games of the season.

Former Belper Town manager Martin Rowe was appointed to the Dovecote hot seat at the beginning of May 2007, however his reign was to last only until November, when Rowe was relieved of his duties after a dismal start to the season.

Ex Sutton Town and Gedling Town manager Lee Wilson was appointed as Rowe's replacement, 10 days after Rowe's dismissal. Fortunes soon turned around and any fears of relegation were averted in the New Year, as Dynamo ultimately finished in a comfortably safe 15th position. The 2007/08 season finished with silverware in the trophy cabinet, after Shepshed lifted the Loughborough Charity Cup with a 3-1 victory over near-neighbours Loughborough Dynamo.

The 2008/09 season saw fortunes dramatically change for the better, with Shepshed ending the season in 8th place and therefore finishing in their highest league table position for 13 years. Honours were won in the form of the Club Of The Month award for November, however Shepshed were rocked when Wilson resigned immediately after the end of the season. After a long selection process, Dave Stringer and Jimmy Ginnelly were announced as the management team to lead Shepshed into the 2009/10 season, but following a difficult season, Dave parted company with Shepshed by mutual agreement.

After another intensive round of recruitment, Barry Baker and Bob Norris were appointed as the new management for 2010/11 and hopefully beyond, and quickly started building a squad of both old and new players. As the season started though disaster struck as Baker was hit by a serious illness, he battled on for a while but finally was forced to resign and concentrate on his recovery. The Dynamo appointed former player Dave Frecklington but this appointment once again failed to last and he was relieved of his duties after a string of poor results that saw Shepshed finish in 21st position leading to relegation.

However Shepshed were reprieved following financial problems at Rushden & Diamonds. John Ramshaw was appointed the new manager as Evo-Stik Division One South football was awarded to Shepshed for the 2011/2 season. In October Conference outfit Eastwood Town came a calling and persuaded Ramshaw to take over their hot seat. Ramshaw’s assistant Chris (Chalky) White decided not to join Eastwood and after a spell as “caretaker” was given the title of Manager in November 2011, a position that he continues to hold with assistant Jim Wynne, and coach Matt Houldsworth.

In 2012, with new Chairman in local businessman Mick Sloan, Shepshed Dynamo competed in the United Counties League, where after a mixed start ended the season on a high finishing in 9th position and beating local rivals Quorn FC 5-0 to lift the Loughborough Charity Cup.
In 2013-14 Shepshed were yet again moved sideways to compete in the Midland Football Alliance and after a season of mixed results finished in16th place. Jim Wynne and Matt Houldsworth began the campaign with a mix of old and new players signed.
In November they were replaced by the successful championship winning Jeff Stocking from Oadby, strengthening the squad but finished the season in 15th place.
For the 2014-15 season Jeff was joined by former Loughborough and Quorn manager John Folwell and they recruited a squad of talented young players who enjoyed an unbeaten pre-season. Due to business requirements Jeff stood down with John being joined by Jimmy Gray. Before the completion of that season however John also had to resign due to promotion at work. Jimmy Gray saw out the season, helped by Andy Hohn, and the side finished fourth. The management team for the 2016/17 season assembled the bulk of last season’s successful side and a mix of experienced players with a group of promising youngsters. Although staying in the higher end of the league for most of the season, including reaching the last 32 in the FA Vase and winning the Loughborough Charity Cup, the club finished fifteenth.
For the 2017-18 campaign again a mix of last season’s players plus experienced additions were to represent the club with hopes of a much higher finish in the league table. \a competitive season ended with a 7th position but also the loss of manager Gray.
This saw ex-Gresley manager Damion Beckford-Quailey take charge and a squad comprising some of last term’s players joined by new faces and several ex-Shepshed favourites returning to the Dovecote.
The FA allocation to leagues for season 2019-20 saw the club again moved to the United Counties for a second time. Damion remained as manager, assisted by Wayne Scott and Dave Clay. Several new faces were included in the squad.
Season 2019-20 saw the club in a very strong position for promotion before the Covid pandemic caused the season to be null and void. With a late start, 2020-21 was a busy one with the club retaining most of the squad and being joined by three additions and increased coaching staff.
Despite this, during the FA restructuring, we were finally promoted back to step 4 via the PPG system after over 10 years at step 5.
In the first season back at Step 4 in 2021, Dynamo Manager Damion Beckford Quailey, assisted by Gary Drake, managed an impressive 11th placed finished, gaining points of each of the top eight teams in the league. In the following season they finished with an almost identical record as the season before.
The 2023-24 season sees Manager Damion Beckford-Quailey along with assistant Gary Drake remain at the club with additions to the technical area as Matt Melbourne makes the transition from player to coach, alongside Nick Fairbrother in also joining the coaching staff. Several new replacement players have arrived to fill the vacant areas in the squad following several players moving to higher level, and long-standing captain Jake Betts announcing his retirement.