If you can, depending on your team size, absolutely do things that are off the clock to build relations. a BBQ at a state park or something. Also, if you are growing then definitely come up with a bonus incentive plan that includes rewards for quality work and longevity. People stay where they feel appreciated more than the pay. Maybe the rewards are gift cards that align with a team members hobbies or likes... which you will discover during the team building/social company events.
Shoot, some of my best childhood memories come from company picnics that i attended with my dad who was the employee.
