Nice comments by Mr. Babu. In addition to above point, you can also start Home-visits of employees. We are running this concept in our organization. We visit to worker's house and discuss their family problems & try to slove at our end.
Also bring small momentoes for children, which make our bonding very strong.
2) You can also choose 'Star of month & Qualty' by making your own perfroma on basis of their KRA marks, attendance etc.
3) Sports day can be celebrated when target is low.
Thanks,
Mithu Taneja