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Dear Sonal,
As many have suggested,some kind of cultural program with the flavour of competition & exciting prizes will surely get every one involved and a special lunch would definitely make the occassion enjoyable.
All the best

From India, New Delhi
Dear Sonal,
If I were you, I would split this into two: (1) Tie up with an NGO/Old age home/Orphanage and invite your colleagues to be a part of spreading happiness by sharing and (2) have an in-house event that ensures participation of all your employees (options can be a quiz, talent show, musical/cultural event)
Have a great celebration
Yoganand

From India, Bangalore
Dear Sonali,
Give a your colleagues the 'light' of their life. We offer handwriting analysis services to corporate as 'fun' too. Our analysts can give a 'fun' analysis and at the same time can bring out some of their hidden issues. We have done several such events and this is something, I am sure, which will be a 'first' for your company

From India, Bangalore
Hi all, I am currently heading the HR Dept of my company and want to give gift to my labours .Kindly guide what all are the option to make our labours delighted. regards, uroos
From India, Mumbai
thank you so much for all your suggestions... i will surely implement some of these... Shivnayak for the handwriting analysis how can we go forward about it??
From India, Mumbai
Hi Sonal.
In the Pooja occasion company can you distribute Sweets packets with some branded crackers also before the holiday company can arrange lunch/Dinner plan in the office campus.Along with arrange Bonus for all staffs which can be one of the good Idea to make employee happy and provide family like environment.

From India, Calcutta
Its correct first we decide the budget and all other programs first tell me your company,budget,where it is,then you get good suggestion from others.
From India, Madras
If u want the celebration more genuine and useful... Please go for tree planting with your celebration plans d.balavinayagam
From India, Madras
I completely second Yoganand here. Just to add to what he has mentioned here will be we may opt for a donation box or charity without keeping any limit on the donation amount. Towards the end collect all the amount & handover them to the Charitable Trust/NGO/Orphan Age etc.........with due respect to all here I also second their thoughts on celebrating Diwali by different ways. That would give you external joy but this activity will give you internal peace. Good Luck Sonali.
From India, Mumbai
Hi Yoganand,
A Very good suggestion . A very direct and firm way to tell your employees that you care. Though what I would suggest is do anything but work. Let the colleagues be together without the work.
Best Wishes,
Axita

From India, Chandigarh
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