The June 2007 issue of SHRMOnline offers some research perspectives on what high performance HR looks like in terms of six specific competencies.

New Competencies for HR cites the research done by Dave Ulrich from the University of Michigan and The RBL Group and outlines their findings in the 2007 Human Resource Competency Study (HRCS). Of note is the competency titled: The Talent Manager/Organizational Designer. According to the article:

The Talent Manager/Organizational Designer masters theory, research and practice in both talent management and organizational design by:
Ensuring todays and tomorrows talent.
Developing talent.
Shaping the organization.
Fostering communication.
Designing reward systems.

We also believe that successful talent management is more than just acquisition. Success does indeed lie in formalizing the processes around talent movement into and inside the organization. Thats why the aspects of workforce mobility, retention strategies, and performance management are important to address when HR uses talent management to improve organizational performance.