Hi, one of the ways is to take them for outbound adventure training to places like Rishikesh, but considering that it is winter time, those places may be freezing. Why don't you organize something close by with a lovely bonfire, and unlimited sizzlers, with karaoke singing competition, from 7:30 PM till 2:00 AM (with due licenses as required) and I guess the team will feel good about it. During the day, you may organize some management games for your team involving the management members to be an active part of it. Mail me at [Login to view] and I will send you some games for free. Those you can understand and implement.
If you look at it, across India, unless you have lots of recreational things at your workplace, the IT programmers / developers, are people who get easily bored and just because there aren't enough openings in the market at this point of time, they hang on till the market opens up. You got to come up with new ways of retaining good talent. Stuff which is employee friendly.
Mail me and I will help you out initially. Don't bother about charges. Of course I can't travel to Lucknow to do it.