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Analog In-Memory computing (AIMC) is a novel paradigm looking for solutions to prevent the unnecessary transfer of data by distributing computation within memory elements. One such operation is matrix-vector multiplication (MVM), a workhorse of many fields ranging from linear regression to Deep Learning. The same concept can be readily applied to the encoding stage in Compressed Sensing (CS) systems, where an MVM operation maps input signals into compressed measurements. With a focus on an encoder built on top of a Phase-Change Memory (PCM) AIMC platform, the effects of device non-idealities, namely programming spread and drift over time, are observed in terms of the reconstruction quality obtained for synthetic signals, sparse in the Discrete Cosine Transform (DCT) domain. PCM devices are simulated using statistical models summarizing the properties experimentally observed in an AIMC prototype, designed in a 90 nm STMicroelectronics technology. Different families of decoders are tested, and tradeoffs in terms of encoding energy are analyzed. Furthermore, the benefits of a hardware drift compensation strategy are also observed, highlighting its necessity to prevent the need for a complete reprogramming of the entire analog array. The results show >30 dB average reconstruction quality for mid-range conductances and a suitably selected decoder right after programming. Additionally, the hardware drift compensation strategy enables robust performance even when different drift conditions are tested.