Free booze during meetings is a great in my opinion, makes them tolerable.

It's also a tax break in the UK. An employee and the employer aren't taxed on the provision of food but would be taxed on a bonus, so you can offer what amounts to £x worth of free food per year rather than (or in addition to) a cash bonus.

It's certainly not linear, though; I think it will be interesting to see what's better in the long run. It's obviously impossible to measure, due to unpredictable factors such as changes in industry and market and competition.

As a whole, though, I think people, especially in our industry, aren't stupid. Free food would certainly be a more competitive retention factor (than ping pong) -- barring that your company's biggest competitors in terms of hiring aren't also offering free food.

Personally, a decent salary & benefits, interesting projects, learning opportunities and sane management would keep me in your company for life.

But, given these things are so difficult to deliver on, let's just throw them kids' games, energy bars and craft beer on tap.