Similar to jb, except I use the concrete limiter instead of the PC76 to catch peaks.
How much gain reduction to use depends on how much the vocalist's level changes, and how good they are with mic technique. Someone who knows good mic technique will move in closer or back away further to create "manual compression." In that case you don't need to add as much electronic compression.
I often mic my voice really close to take advantage of the proximity effect. In that case, I need to add a lot more compression to even out volume levels. When I do background vocals, I don't close mic and use mic technique so I don't have to compress as much.