The defender, who joined from Bradford last summer, put pen to paper on a new two-year deal on Friday. His new contract came amid speculation linking McCall with the Sheffield United job, although the manager has stressed he has no great desire to quit Fir Park.
Ramsden said: "Personally, it would be a huge loss because this is the second time I've played under the manager. He signed me for Bradford and then brought me up here. From my point of view, it would be a massive loss."
He added: "I'm sure for the club and the fans it would be exactly the same, after what he has done over the last few seasons. We'll all be hoping that he stays."
Motherwell have already secured second place in the Clydesdale Bank Premier League but head into the last game of the season on Sunday against a St Johnstone side who are still vying for a European spot.
With Inverness also still in the race for the final Europa League berth, Ramsden insists Motherwell will show respect for the battle for third place by giving their all as usual at McDiarmid Park.
He said: "After the season we have had, we will go into the game with a lot of confidence.
"It is nice to have the pressure off and knowing that we don't have to win to seal the second spot. We know they are going to be well up for it because they need to win to get that third place. We are going to have to be on our game and I'm sure we will be.
"Sometimes you get to the last game of the season and neither side are playing for anything and it can be a bit of a testimonial type feeling.
"We've still got a job to do and we want to go out on a high and finish the season with another three points if possible. We know we've got to do justice to Inverness as well and field a strong team and do as well as possible."