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There are many programs that do this, but generally if we're talking FHD, either X/H264 CBR 5000 kbps (if you've got a camera that moves around) or CRF 20 (if you've mainly a still camera with a passive background) seems to do the trick in making economical file sizes that still have good video quality.
CUDA/NVENC H264 may result in faster encoding, but be warned that it usually results in larger file sizes if you opt for CRF encoding. I'd recommend only using this if you quickly need to compress raw footage into something manageable for editing, but not for actual subscriber use.
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