A CodePen by Jeff Bail.

index.html

<p><strong>Example 1</strong>: The link below will look good when hovered because the outline doesn't take up space.</p>

<p><a href="#" class="outline">I'm jumpy</a></p>

style.css

a {
 display:inline-block;
 padding:3px 12px;
}

.outline:hover {
 outline:5px dotted gray; 
}