When I was at OpenDNS, @davidu used to say something along the lines of, "When you try to host a big company party with over 100 people, you expect to have to fire somebody for their behavior there. Don't be that person." Maybe the costs don't outweigh the benefits of work parties.
[1] https://www.theguardian.com/environment/2018/jul/13/wework-m...