CREATE TABLE Journal(Operation int, TableName varchar(100), IdTable int, SysDate datetime, UserName varchar(50),
                     NewValue xml, OldValue xml)

select @OldValue = (select * from deleted R for xml auto, type)
select @NewValue = (select * from inserter R for xml auto, type)

DECLARE @xml XML = (
SELECT TOP 1 * FROM sys.columns FOR XML AUTO, TYPE )

DECLARE @hDoc INT
EXEC sp_xml_preparedocument @hDoc OUTPUT, @xml
;
WITH
d AS (
  SELECT 
    *
  FROM 
    OPENXML( @hDoc, '//*' )  
)
SELECT
  d1.localname,
  d2.text
FROM
  d d1
  INNER JOIN d d2 ON (
        d2.[parentid] = d1.[id]
    AND d2.[nodetype] = 3 )
WHERE
  d1.nodetype = 2
;
EXEC sp_xml_removedocument @hDoc

declare @TmpJ table(Id int identity, OldValue xml, NewValue xml, SysDate datetime, UserName varchar(max))

-- значения для теста
insert into @TmpJ
values('<R IdEmployee="23345" IdMonth="6" TheYear="2016" SDate="2016-06-15T00:00:00" FDate="2016-06-15T00:00:00" NameDay="" IdPost="4029" />',
       '<R IdEmployee="23345" IdMonth="6" TheYear="2016" SDate="2016-06-15T00:00:00" FDate="2016-06-15T00:00:00" BasisPrivilege="27-5" NameDay="" IdPost="4029" />',
       null, 'Иванов'),
       ('<R IdEmployee="23345" IdMonth="6" TheYear="2016" SDate="2016-06-01T00:00:00" FDate="2016-06-11T00:00:00" NameDay="ДЛОТПУСК" IdPost="4029" />',
       '<R IdEmployee="23345" IdMonth="6" TheYear="2016" SDate="2016-06-01T00:00:00" FDate="2016-06-14T00:00:00" BasisPrivilege="27-5" NameDay="ДЛОТПУСК" IdPost="4029" />',
       null, 'Петров')

declare @Id int, @OldXML xml, @NewXml xml, @UserName varchar(max), @SysDate datetime

select * from @TmpJ

while exists(select * from @TmpJ) begin
  select top 1 @Id = Id,
         @OldXML = OldValue,
         @NewXML = NewValue,
         @UserName = UserName,
         @SysDate = SysDate
    from @TmpJ

  --insert into @Res(AName, AText, UserName, SysDate)
  select 'Изменено',
         AText = convert(varchar(max),P.Value) + ': с '''+isnull(OldValue,'')+''' на '''+isnull(NewValue,'')+'''',
         @UserName, @SysDate
    from (select Name = x.n.value('local-name(.)', 'varchar(max)'), OldValue = x.n.value('.', 'varchar(max)') from @OldXML.nodes('/R/@*') x(n)) A
    full join (select Name = x.n.value('local-name(.)', 'varchar(max)'), NewValue = x.n.value('.', 'varchar(max)') from @NewXML.nodes('/R/@*') x(n)) B
         on A.Name = B.Name
    left join sys.extended_properties P on P.major_id = object_id(@TableName) and COL_NAME(P.major_id, P.minor_id) = isnull(A.Name,B.Name)
  where isnull(OldValue,'') <> isnull(NewValue,'')

  delete from @TmpJ where Id = @Id
end