I tend to dress for work parties just a bit dressier than I dress for work. I dress fairly conservatively anyway, so that's just me, but I think work parties are an extension of work, so someone showing up in a leopard print catsuit would probably make me roll my eyes. LOL
I think the perfect LBD is an appropriate (if it's not overly revealing) choice. But, lots and lots of dresses, skirts, even dressy pants would work equally well. It's really cold here now, so any business parties I go to will be the pants option! With dressier shoes, more bling than I wear in the daytime, and maybe shiny tops (fuscia or emerald are the two options I have right now--those colors work for me.)