The problem is not the budget. It is not the guest list. It is not even the venue. The problem is that most company Christmas parties are planned backwards from logistics — instead of starting from the one question that actually matters: how do you want people to feel that evening?
A Christmas party is a mirror of your company culture — more honest than any employee survey. The companies that get it right understand that they are not organising a free evening. They are sending a signal. And the companies that invest real thought into that signal end up with teams that carry it into the new year.