The 36-year-old took over from Graham Westley on Sunday, stepping up from his role as a first-team coach at Broadhall Way.
Revell has invited Slade to take up a managerial consultant position having worked with the forward at Leyton Orient and Cardiff.
Stevenage, who sit bottom of the table and seven points from safety, have also confirmed coach Michael Nelson has departed.
"I have always respected Russ," Revell told the official club website. "It will be a great boost to be able to use his experience around the training ground and on matchdays."